I am looking more for more like the next 2 weeks, and I don't see why not given this has gone since August and they now have some of the funds and said end of February for the rest. You would hope it would come before then as they would surely by now have learnt to be conservative with their dates.
Happy to wait untill April 14 as this would allow me avoid any CGT for this year. I am quiet sure it will come good from here. If we get $50M no one knows where we will be unless future plans are declared...if we dont get $50M I dont think theres any downside....Bill will find JV partner for Danish & Jutland....GLAH
It could be a farmout of Denmark or news on the financing front. Take a look at subscription update (dated 22/01/2014) above. This is the key paragraph; -----------------------------------------------------------
"The Company is now pleased to announce that it has received Subscription funds to the value of US$4.8 million from Niel and which the Company is currently holding in escrow. US$20.2 million, the balance of the agreed Subscription funds, is expected to be paid by Niel by the end of February and at that stage the total of 2,184,897,959 Subscription Shares will be issued and allotted in accordance with the transaction approved by Shareholders.
A further announcement will be made in due course"
As they have recieved $4.8mln of a $25mln financing deal from Niel petroleum, it kind of confirms Niel's intent. If Niel pay over the remaining $20mln, then a further $25mln loan is available to NEW from Niel petroleum.
It says in the update the remainder ($20mln) is expected by the end of Feb. I caution, it could be later than that, but will be a major development if it is received. NEW will have gained themselves $25mln in immediate funding and then have access to a further $25mln.
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