I contacted the company, spoke to a nice chap and he answered my questions to my satisfaction.
my questions and answers were as follows: Question1. Has Blumont paid the $8 million for the share placement? Answer1: YES
Q2. Has Blumont issued the $100 million bond? A2: This is in progress with Blumont and is being processed as scheduled.
Q3. What happens if Blumont want to backout of the agreement? A3: Blumont are progressing as agreed.
Folks the SGX was closed today and hence, no trading to report on Blumont shares. Blumont just did a share purchase plan to existing shareholders @ 5cents a share and quite a few people took up the offers and then sold on the market @ 15 to 17 cents.
Blumont has raised approx. $50 million from SPP, just lent $8 million to Cokal on the 8th Oct and seem to be operating business as usual!!!!
Cheers and good luck to all holders.
PS I bought another 100K shares @ 5.7cents today and at these levels - my thinking is that its worth a punt!!
DML Price at posting:
5.7¢ Sentiment: Hold Disclosure: Held
