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Ta,I posted this previously...........
The Group exploration costs of £4,742,818 are currently being carried forward at cost in the financial statements. The Group
will need to raise funds to reach financial close. Also, financial close involves the raising of finance, both debt and equity for
the opening up of the mine and the construction of the power plant. If the Group is unable to raise this finance, some of
the assets may require impairment.
Company
Exploration costs
£
COST
At 1 January 2018 3,247,597
Additions 65,219
At 31 December 2018 3,312,816
NET BOOK VALUE
At 31 December 2018 3,312,816
https://mettisglobal.news/cpec keep an eye on this website folks.
I wonder if each of you are now similarly minded? For the past few weeks I've woken pre-7am (uk time), reviewed the BB, checked the Pakistan Observer website, then Twitter, then Oracle, then waited for the red dot. When none of those offer any substantive updates, particularly the official RNS, I simply check in to see how much we are down intra-day...........sad state of affairs I know!
So it's now a binary issue for. RNS (s) or drift downwards, holding and hoping for the former, whilst trying hard not to allow the latter influence my sell button. GLA.
In order to issue the shares associated with the Second Stage and the warrants, including those warrants announced herein and the 200,000,000 warrants with an exercise price of 0.5p per share announced on 12 August 2019 (the "August Warrants"), the Company will need to obtain shareholder approval to issue shares for cash at a duly convened general meeting. Accordingly, a circular will be posted to shareholders in due course.
So that could be the first of the 0.5p warrants exercised.