The problem is not NXE for Fura, but the administrator unwinding...

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29/11/18

14:56

Post #: 36689865
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Originally posted by Teddyward ↑

Originally posted by pe981
Ahh, just gets better and better.
Obviously are having trouble raising funds to be able to meet any conclusion to the Arena action so have had to crystalise their position with Fura - (Note - ".....at the request of the Company")
I love how the language has changed from Fura paying $10m worth of shares to now noting the deal was for 10.5m shares - nice and subtle to fit the circumstancesclear.png
".....and now places New Energy in an advantageous position in the dispute process"
Certainly looks like they expect to be able to reach an agreed settlement and having the cash will probably prompt Arena to accept. (would expect face value plus accrued interest, although they might get away with lessclear.png - obviously sticking point was termination fee)
Now that they can clean all that up, they will still eventually have to go back to Mr Ching when they want to raise any significant development money and how much of Caula will he want next time?
Assets are disappearing before shareholders eyes.............................
Couldn't be anything further from the truth IMO

Fura would IMO have had a get out of goal card in contract so if NX went admin / liquidation so arena would have got squat and now NXE have put a pile of cash in front or arena to try and claim. That is a homer simpson face plant moment IMO. Arena were fighting for a basket of nothing out of probable spite and now instead teh NXE management have put a pot of gold there instead by realising a early settlement of value on ruby sale. Sheesh the timing by NXE just looks dumb to me. What am I missing?

I don't blame Fura for wanting rid of NXE asap but .....................

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The problem is not NXE for Fura, but the administrator unwinding the deal in NXE goes into administration. Fura wants the ground and they are willing to pay in cash now to ensure that they get to keep the ground. Amazing deal for them for a bit over $6 million in cash they have got control of a large chunk of the ruby ground in Mozambique. Dev and the reat of team at Fura are damm smart.

NXE Price at posting: 4.8¢ Sentiment: None Disclosure: Not Held
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The problem is not NXE for Fura, but the administrator unwinding...

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