NIU IS NO LONGER PROVIDING FUNDING9 Mar 2025 08:51
From Paul's post "maximum amount of time to arrange **new funding**"
Well, now its pretty clear NIU are out, investor relations stating, they are looking for NEW FUNDING!!! If they state this in an RNS and next to no funds, and it's probably heading for suspension, hence total silence for many months, market has worked this out.
What happens to the shares alloted to NIU? They are legally subscribed, so now what, legal case they cannot afford?
Wages trimmed, riverfort loan need paying, NIU out, project cant move, no permit, further delays and back to square one.
Also first $5m was drawn down on 5 June. When do they owe interest? What did they spend the 5million usd on? What will NIU do with their 34m shares now they are out?
With money very tight with deferring wages can see another small fundraise to tie them over. Back to below 3 pence is my guess, with fundraise. Looking at Pual's post no funding is being sorted anytime soon, some individual on twitter created a little pump on Friday.
PFS is hardly economical. Abnormally low discount rate used for NPV and a much higher copper price than 1st touted. Hence why the requirement for the non compliant PFS to use 2nd hand equipment costs and now all the talk of drilling an adit.
How tight must wages be that they are now deferring wages?
By regulations do they not have to announce that NIU are out? Are they going through legal proceedings? So many questions.