RE: Farm in due anyday and money raised with price drop time to buy8 Jan 2025 11:00
The key line in the rns relating to the farm-out was fairly vague and doesn't really explain in any detail the reason for the delay:
"Accordingly, following the recent technical discussions with our farm-out partner, which highlighted geological similarities to discoveries in the Orange Basin, we have moved the 31 December 2024 deadline for the farm-out signing."
We don't know the nature of the" technical discussions" and whether it means greater potential or conversely more challenging circumstances that warrant a delay. Quite simply the devil is in the detail and we just don't know it yet. Yes the rns goes on to say potential for enhancements but the word 'potential' really doesn't mean much and is political speak. Whilst my outlay is safe I have left my profits here for now, watching and waiting for actual news, although I'm not sure the raise is going to attract as much interest with the SP at current price in truth. We will see. The Juno project was always thus. It needed funding and comes without any guarantees albeit we can hope it goes beyond expectation. That side of it is a long game though. It's important to be realistic and people that are underwater need to take great care in trying to recover as this may not play out. I'm just saying it as I see it. The profit I have here is effectively gambling money, though much less so once we know the true picture regarding the farm-out and if or when the deal is struck. That dictates my next move. DYOR