Metal Storm: Down but not out

Just after Metal Storm share trading was halted by the ASX, the company announced they have secured funding from a UK investment group ...

Metal Storm Limited is pleased to announce that it has entered into an agreement in relation to an A$20.2 million equity line of credit (LOC) facility from UK-based investment fund Global Emerging Markets (GEM) Global Yield Fund to provide funds for the commercialisation of Metal Storm's core defence technology products.

[ Many thanks to Daniel E. Watters for sending me the info. ]

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3 Responses to “Metal Storm: Down but not out”

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  1. Daniel E. Watterswrote on January 11th, 2010 at 1:19 am Link To Comment | Reply To Comment

    Well, someone just made some money off of them:

    “Quick and tidy turnaround for Metal Storm investor”
    http://www.smh.com.au/business/quick-and-tidy-turnaround-for-metal-storm-investor-20100107-lwvm.html

    Please rate this comment: Thumb up 0 Thumb down 0
  2. Fiftycalwrote on January 10th, 2010 at 9:23 am Link To Comment | Reply To Comment

    Anyone that actually put money into that turkey had best get what they can before the principals disappear.

    Please rate this comment: Thumb up 0 Thumb down 0
  3. Daniel E. Watterswrote on January 06th, 2010 at 12:54 pm Link To Comment | Reply To Comment

    Additional links regarding the deal:

    http://www.smh.com.au/business/metal-storm-gets-funding-deal-at-last-20100105-ls73.html

    http://www.theaustralian.com.au/business/m-clears-the-air-for-troubled-metal-storm/story-e6frg8zx-1225816395367

    Please rate this comment: Thumb up 0 Thumb down 0
  1. Daniel E. Watterswrote on January 11th, 2010 at 1:19 am Link To Comment | Reply To Comment

    Well, someone just made some money off of them:

    “Quick and tidy turnaround for Metal Storm investor”
    http://www.smh.com.au/business/quick-and-tidy-turnaround-for-metal-storm-investor-20100107-lwvm.html

    Please rate this comment: Thumb up 0 Thumb down 0
  2. Fiftycalwrote on January 10th, 2010 at 9:23 am Link To Comment | Reply To Comment

    Anyone that actually put money into that turkey had best get what they can before the principals disappear.

    Please rate this comment: Thumb up 0 Thumb down 0
  3. Daniel E. Watterswrote on January 06th, 2010 at 12:54 pm Link To Comment | Reply To Comment

    Additional links regarding the deal:

    http://www.smh.com.au/business/metal-storm-gets-funding-deal-at-last-20100105-ls73.html

    http://www.theaustralian.com.au/business/m-clears-the-air-for-troubled-metal-storm/story-e6frg8zx-1225816395367

    Please rate this comment: Thumb up 0 Thumb down 0

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