Stranded Albatross7 Aug 2019 17:57
I’ve been a follower for years of BOR and I can’t help think there really are 2 options
1 seek a special resolution to recapitalise the company similar to PVR did for the Druid drill. A successful appraisal and flow test would surely see the mkt cap re rate to well in excess of 100 mill
2 the lack of farm in success implies to me it’s not the asset which is excellent but the percentage BOR want to retain I would imagine to fund an appraisal as bor are skint they likely would want 70 percent of the asset. No way these old duffers would agree to that so IMHO potential farmers would rather sit this out for another 3 years and get the licence for nowt...