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A very simple question that everyone keeps skirting around - if...

Currently unlisted. Proposed listing date: WITHDRAWN

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JimmyEyebrow

1,361 Posts.

23

06/03/17

11:45

Post #: 23122481
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Originally posted by albatrader ↑

Hi all

These are very valid questions in relation to the ongoing suspension.
The suspension happened as a result of NXR's significant investment in WBT which was a change of business operations from mining to technology.
The reason why the shares remain suspended is that in order for NXR to be re-listed the company needs to comply with ch 1 & 2 of the ASX listing rules. This requires a merger and a capital raise.
Therefore, until WBT can prove up the tech, which is what Purdue testing is about, there isn't the ability to raise new funding for the company.

As previously noted, all shareholders are frustrated with the current state of affairs. However, results from Purdue testing are due by over the next week or so.

Not long to go now.

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A very simple question that everyone keeps skirting around - if the tech proves itself to be world class and the quantum leap that so many tout, what incentive is there for WBT to sell the rest of their company to NXR?

NXR Price at posting: 2.0¢ Sentiment: None Disclosure: Not Held
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