Capital raising has to go ahead and I don't know what can be raised.
Noble repayments started in April 2018 and RES only had $1.8 million cash available in the March 2018 half yearly which included costs up to DEC 2017.
The bonus is the Directors won't be able to be paid sooner than you think.
They reported assets of $203 million which had $1.8 million CASH only out of that figure.
Africa was 1% of Nobles global exposure. When Noble went into this deal they were selling huge amounts of coal to China...Not any more... Their Yancoal operation in Australia ha been declining year on year as China changes their power stations from coal to gas.
China's air pollution is a problem that's why they are converting their power stations from coal to gas.
I just can't see any sensible investor, investing in RES in the near future.
Even Africa is busy changing from coal to gas power stations.
RES Price at posting:
4.9¢ Sentiment: Sell Disclosure: Not Held