RE: SilenceThe merger must be waiting for shareholder approval meetings... I know I haven't been asked yet. The 4MM will be part of the convertible debenture that gives NIB interm financing, NIB wouldn't take the cash all at once since they would have to pay interest on the whole amount, but rather draw it down as needed.
The merger was announced May 23. NIB had cancelled a previously arranged private placement to take the deal with CBR. Since May, they have used up all their cash on hand as well as 4MM from CBR. They must be really giving it at the mine site. There doesn't seem to be any urgency to conclude the merger, but a lot of urgency to prove out the resource. Maybe NIB has a buyer or JV waiting in the wings and just needed to prove out the resource. This would fit CBR's investment strategy... short term investment in an undervalued play.
This is pure speculation on my part, I have no evidence to back it up.