ANS 0.00% 1.7¢ austsino resources group limited

Dear Praetor,I suggest that you read carefully the announcement...

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  1. 8,664 Posts.
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    Dear Praetor,


    I suggest that you read carefully the announcement of ANS on 2 August 2018 and also the annual report released to shareholders on 31 October 2018 so you will know whole picture.


    ANS announced on 2 August 2018 that ANS has subscribed to the SDL shares for $750K and to secure the exclusive right to discuss  and advance the development SDL project until 31 August 2018 and at the same time, ANS also announced to have signed an agreement with a sophisticated investor from China to raise $3 million. In the announcement, it clearly explains that the funds of $3 million from this sophisticated investor must be deposited within 14 days and the purpose of the CR is ......to progress discussion with SDL and its project partners, and for working capital.

    Based on the audited financial statements for the year ended 30 June 2018, in the notes to financial statements no. 23 events subsequent to year end which were signed by Director and external auditor on 28 Sep 2018 and this report released to shareholders on 31 October 2018, it was disclosed that the company has received an initial $400,000 as part of the subscription funds. The company said that the remaining funds will be received in the near future.

    Can you see now all the dots. So how can you say that CR of $3 million is irrelevant to progress discussion with SDL and its project partners.

    Gain or loss is in your own hands. DYOR.





     

 
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