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Cheers Longwalker. The lack of cash on hand is a slight worry....

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more4less

1,780 Posts.

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28/04/16

17:00

Post #: 17623368
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Originally posted by longwalker ↑

Without checking the last quarterly it would not have been much hence the Magna convertible note, so they have raised last week $750k (oversubscribed by $250k) , $250k to be used pay out Magna which is great news , leaves $500k and change

Other posters have mentioned sale possibility of the existing resource assets which I think is the most logical outcome , one poster estimated this circa $1m so I think that is ballpark maybe mid $1m if I was asked , but be conservative and say $1m, leaves us with $1.5M upon disposal of the resource assets

Then of course I would expect at some stage CSIRO funding from their innovation fund and of course the $3M they are looking to raise for the float in 2 months . I think this is probably going to get raised easily and placed with Insto funds given the landscape of RAP ability to raise $12M

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Cheers Longwalker. The lack of cash on hand is a slight worry. If the sale of existing assets do not sell quickly, they will be in deep trouble then.

Concerns with so little cash on hand, they will bring in the administrators at any time if anyone is owed money. Would have thought they continue with convertible note until they raised capital of 3m?

Last edited by more4less: 28/04/16

MNQ Price at posting: 1.9¢ Sentiment: None Disclosure: Not Held
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