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Watermark Global

  • BY: Andrew Hore |
  • POSTED: 14/05/2010 |

Watermark Global still has not received any decision from the South African government about how it will deal with acid mine drainage and that means Watermark needs more cash.

The Environmental Impact Assessment (EIA) for Watermark’s proposed acid mine drainage project in South Africa is progressing but funding decisions could delay the project.

Watermark is talking to mine owners to gain their assistance with funding of operating costs until a decision is made. This funding should last until the end of May. Watermark also needs to issue shares to raise more cash and broker Cnkos has already started the process.

Further delays will mean that Watermark’s project, and its participation in it, could become doubtful. It is not certain that the project will be chosen by the government but it appears to

Any share issue is likely to be highly dilutive. The share price has fallen 0.12p to 0.33p, which values Watermark at £2.23m.

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