5 billion NPR ($48.3 million) across the border to complete the new casino resort they are building.

The resort currently being built by Australian casino developers is called Tiger Palace Resort Bhairahawa, located in Nepal. According to a Silver Heritage representative, the operating permit should be sufficient to cover the necessary expenses by the time the project is completed. The company said it would be able to open the property for public use after the move, according to a filing with the Australian Stock Exchange.

Silver Heritage said in a regulatory announcement in February that the completion of the resort was partly disrupted, and cautioned investors that Silver Heritage was partly due to a lack of liquidity in Nepal's banking system. There was also an unexpected delay in Silver Heritage's approval of increasing its stake in Nepal's corporate investment vehicles. All of these factors contributed to the company's decision to suspend stock trading.

A week before receiving permission to remit money from the central bank, the Australian casino developer began a full takeover of Baillieu Holst Ltd. to seek help to complete the construction of the property. The accelerated waiverable offer was targeted at potential investors, with total revenue targeted at A$19 million ($14.4 million). This approximate amount will be used to fund the project and build to completion, as well as to provide working capital and pay for the rights offer.

Qualified shareholders have the right to subscribe for two new Silver Heritage shares for each stock that already exists, and the company announced on July 4 that it held a single share at an offer price of A$0.05 per share. This Tuesday, the casino developer said stock trading will begin anew after the institutional portion of the qualification offer is completed.

After a series of complicated approvals for the announcement made Thursday, Silver Heritage executive and chief executive Mike Bolsober said it was a final plan aimed at increasing the company's direct investment in foreign projects, such as those in Nepal. The initial budget for the construction of Tiger Palace Resort Bairahawa was $11.8 million, but eventually increased to $51.8 million.

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