We would love to hear your thoughts about our site and services, please take our survey here.
Agreed but you know what Mike is like. I'd just stick with $1600 AISC until I've seen a couple of quarters of evidence this has lowered. Still your overall point is valid, we're generating cash. The big question is how much are they spending on Coringa.
You act like they didn't drill any. They drilled 2 out of the 3/4. Clearly by saying they aimed for 3-4 meant 4 would always be a push, so they only missed their target by one & that's because GE1 failed. Obviously you already know this, but you just want to be controversial.
https://www.youtube.com/watch?v=i7yetcIwpNw&t=1s&ab_channel=InternationalInvestmentForum%28IIF%29
It's not called Monreal. It's called Hostmore. Monreal was the name of the company with the 'more' ticket previously which LSE have failed to update.
I for one didn't see the big SH as a good thing. In my opinion, he knew there would be many many placings being done. The huge SH just allowed him not to invest in further placings and, whilst being diluted, still hold a huge % of the count.
The lending facility was maxed out after the grant east drill, and there was not enough cash on hand to drill another well. This is all common knowledge. The only way they could've drilled another well is to do a fund raise, which they haven't done now in 2 years (despite all you lot moaning about fundraises). Will they raise again soon? Maybe who knows, but they certainly don't need to with the cash flow and debt facility that is in place.
Company can get drilling again now which will excite the market. Personally, I'd rather them drill with Cypress. They have the 3d. 2/2 successful drills and a Pine Mills 3 which we could go in for 32.5% again hopefully getting another 100bopd - 32.5net to NTOG would push us way over the 150 net per day. From there, with the built up cashflow the company could could to drill at it's grant east leases. That's how I'd do it, rather than just spend the whole facility on GE.
Let's see what happens, but with cash available to spend, should hear some news soon.