You missed the deadline ..... Where's the cash gone?

15 October 2015 was the deadline to pay up for NCF, we sit at 24%, and that's where we will remain. Previous extensions were announced to the market as a "Market Sensitive Ann".

This time ..... Nothing.

Cash at the end of last quarter was A$2,625 with estimated cash outflows of A$1,257. That left enough to pay the balance of US$800 to bring us up to 33%.

Where's the cash gone?

You raised A$3mil and announced it to the market on 19 October 2015, days after the deadline. Were you too late in raising this money?

The quarterly tomorrow will be a rear vision announcement with statements such as we own 33% of NCF. That was true in the Sept quarter and right up to the eve of 15 October 2015.

The interview with Alan Koehler was done a couple of weeks prior to the deadline, again the language was GER own 33% of NCF.

My opinion is that we're stopped at 24% of NCF because GER ran out of money.