$1.28 is the threshold. A sale by RNI of 18m shares at that...

$1.28 is the threshold. A sale by RNI of 18m shares at that price will just pay out Taurus. But, nothing will happen til sh approval, and I would hope for that by 15/10 so that T doesn't get shares. Running out of time though.

@stockjocky. RNI was probably trying to borrow $80m or some figure like that - guessing though. That has now gone by the wayside. It will want working capital though to manage and explore for base metals, and hopefully enough to avoid another CR. One is coming up as we know - a rights issue of 1 for 3 at 2c. The cut-off date has not been announced as yet. Indeed the notification of the CR has not issued as yet. The important question is: 'will it be underwritten?' So, no more CRs after this one, at least not for many months anyway.

Every cent above $1.28 will go in to the cash kitty. Pray for a minimum sale price of $1.50. That would add say $3.7m to cash funds. That would be on top of the $5m or so from the rights issue. I'm plucking these numbers out of my head, relying on memory, so they may need some adjustment. But I'm pretty sure that I am not far off the mark, so $8m or so in the bank would be very handy.