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Demand takes wind out of New Energy's sails

FAILED ruby miner turned potential graphite-vanadium miner New Energy Minerals has seen its shares battered this morning with announcements of a statutory demand from a former major shareholder for A$5.1 million and a previously undisclosed familial boardroom relationship overshadowing a new $5 million capital plan.

Haydn Black
Demand takes wind out of New Energy's sails

In terms of the bad news, Arena Investors has served a $5.1 million demand, arising from debts allegedly owed by the company under the terms of the convertible note deed, including a termination fee of...

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