If you held the shares at the end of May then you would be...

If you held the shares at the end of May then you would be allocated 3:1 rights. The rights issue was announced when the share price was 1.5 cents. The rights are exercisable at 0.5 cents.

If you are not entitled to rights and there is shortfall, then I think the company can allocated rights to non-holders who are sophisticated investors.

The reality is, some time after tomorrow at 5pm we will know how many shares have been issued and how much NTL raised. If NTL raises enough to go into production (and further exploration and its JV with Newcrest) then I expect to see some very exciting movement in the share price I have accepted all my rights and applied for short fall