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2.0¢ niuminco group limited

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imperatore

3,236 Posts.

275

15/09/16

07:58

Post #: 19164443
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Originally posted by BenDavies1 ↑

The Cap Raise is for the repayment of the loan to TNT mines

"- The major shareholder, Numinco Group Limited has resolved that they will not call for repayment of the loan of $615,484 which is payable to them as at 31 December 2015 for the next twelve months from the date of this half year financial report.

- Numinco Group Limited intends to provide additional funding if required.
- The directors have prepared a cash flow forecast, which indicates that the Group will have sufficient cash flows to meet all commitments and working capital requirements for the 12 month period from the date of signing this half year financial report.
- Based on the cash flow forecasts and other factors referred to above, the directors are satisfied that the going concern basis of preparation is appropriate."

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Excuse my ignorance but to me it means that NIU is not asking TNT to repay therefore is TNT that owns money to NIU (major share holder btw) so does not make any sense to have have cr for the reason you mention. Am I confused ?

NIU Price at posting: 0.8¢ Sentiment: Hold Disclosure: Held
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