On 30 September 2013, Pure Metals paid CAP $2.9m which was almost three months late.
On 2 October Silvergate (the same group) mortgaged all their CAP shares for $3 million which I assume cost them originally around $8 million.
In Hong Kong Cheung other company Dejin Resources was trying to raise around $2 million and they had to extended the deadline of that deal to 4 October but their has been no announcement about this raising being successful or subscribed.
For a group that is now required over time to fund 40% of $3 billion CAPEX project it does not look good for CAP long term future.
Perhaps its time for the Chairman to step aside completely.
CAP Price at posting:
17.3¢ Sentiment: None Disclosure: Not Held
