newsI calculate today's fund-raising is worth:
2.75m shares at $8 = $22m immediately.
1.375m warrants to raise $9 each = another $12.375m on its way in the next year.
Galahad's 50% is a strong vote of confidence as they are "insiders" with a man on the board, and they already hold lots of warrants, although they are entitled to sell these new shares after the next four months.
But so is the fact that third parties are subscribing so much. NDM should be well funded now to carry out all it wants to do to achieve a bankable feasabilty study in 04.