Originally Posted by
robbo24
Didn't NTL say they didn't need to do a further capital raising because they were going to raise money via their test ore?
Oh wait, nevermind. Foolish me for not reading pages 7 & 17 of the Annual Report (https://www.nzx.com/files/attachments/177255.pdf):
19. GOING CONCERN
The financial report has been prepared on a going concern basis. The company raised A$543,510 less expenses since balance date and is planning further capital raising. The directors expect to hold sufficient funds to ensure that financial obligations can continue to be met for longer than 12 months.
Although this is kind of inconsistent with page 3 of the same report:
Pre-Feasibility Study
The Pre-Feasibility Study was completed in March 2013. It analysed a range of options centred on the concept of a small scale operation with low capital requirements that would generate, over time, the funds required to explore and open up future mining areas. The operation would focus on the high confidence resources, immediately adjacent to the accessible 8 level drive, delineated during the 2005 exploration program and create the infrastructure necessary to support further exploration activity.
Wish I had sold at 1.8c this morning now...
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