NRU 0.00% 5.5¢ newera resources limited

no money left

  1. 683 Posts.
    NRU has almost no money left.According to the last quarterly cash report,they had about $350,000 left in the bank.Well,the end of this quarter is fast approaching,and their cash burn for most quarters is around $250,000 therefore nru must be just about broke.And keep in mind that the $1million payment to aquire the shanagan licence(nru currently only have an option)is due to be paid.Will NRU be converting its option by paying the $1mill???Based on the results to date and the available cash i doubt it.....Another fizzer of a project selected by martin blakeman,that never had a chance of succeeding,just do a bit of drilling to keep busy to justify his wages,and make money for his buddies at cygnet.Just like blakemans other company MNM which is a complete joke with worthless projects that only exist for the purposes of lining the pockets of the capital raise team at cygnet........
 
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Currently unlisted public company.

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