Well, given the last quarterly shows $1.7m in the tin as at March and they had estimated cash outflows of $750k for the June quarter and it is now July, i would guess that the Board will have to raise capital. A listed company with an active development project can't have less than $1m in the bank...
To the best of my knowledge the company didn't receive any cash through the scheme and the break fee seemed one sided, only for CXX and not Tremont.
Very bad luck to all holders.
CXX Price at posting:
31.5¢ Sentiment: None Disclosure: Not Held
