RE: No deal with Lincs....11 Aug 2014 13:22
From the original HOA with Lincs;
'Further, the parties have entered into a Funding agreement whereby Linc shall provide funding up to a maximum AUD 400,000 for the costs associated with the WHE subsidiaries holding the WHE UCG tenements for up to four months prior to completion of the sale transaction'
So it probably costs a minimum of AUD100k per month to keep the UCG leases. So, even if the company raises the full AUD1.4m from the rights issue then considering that there are other costs of keeping the company running to be factored in the cash isn't there to keep them running for very long.