So.......They (SML) would have got 10% more of Redmoor if NAE didnt raise to cover drill costs reducing NAE's interest to 40% on a $1.1 millionAUD drill program.....
so what.....!
It means then there is lot more at stake for them and more incentive to get it into production.....and we get progressed at no risk or cost on an expensive drill program
The only risk to not raising wasn't our stake in Redmoor, imho it had more to do with securing Gary's large paycheck...
Because NAE could have scraped through without diluting the hell out of the registry whilst waiting for Redmoor results.....and possibly then raise higher with more interest....
Ann: NAE Secures $1.6M to Develop Redmoor Tin & Tungsten Project, page-36
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