RE: No separate IPO for MSMN helium assets!27 Oct 2023 14:50
The alternative of funding EP 145 with a "spin out" IPO would have required Mosman funding of the significant IPO costs, would depend on capital markets at the time of IPO, and would have resulted in additional ongoing corporate costs. The IPO was not certain of success and may not have raised the funds in the limited time available to ensure funding the seismic that requires commitment to long lead items in 2023.
Andy Carroll, CEO, commented: "We are pleased to have reached agreement with Greenvale who we see as a strong Joint Venture partner to work with in Australia. This agreement delivers on funding exploration and is validation of the helium, hydrogen and hydrocarbon potential of EP 145."