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Raise is inevitably coming here
Unless, as Farnham says it hits the 20s.
How are these two going to develop a gas field from scratch with $6mm given they have no operating capabilities or seemingly no ambition to operate.
It’ll be 100s of millions to appraise and fully develop.
AIM is a joke at times. They need to farm it out again to a proper company
A no news update always leads to an attempted placing
How long has this got left on the clock?
Despite the hubris this clearly needs another raise assuming it wants to trade into next year. $2mm at beginning of the year and spend is consistently in the $1.8 mm per year range. That’s the main problem. Holding at the next dilution point which has to be in the cards will be painful.
Surprised this is still trading
Aside from the obvious Russia issue it’s lost money for the last 3 years according to yahoo finance.
Dear Mr Charlie
Graf and Venus were wildcats…
Nobody said the extension would definitely not be given simply that it was needed.
Cash is probably is I agree around 1.5 mm or a bit less so they need a raise to take them into next year? Are you saying they can trade until Sep 2023 on present balance. Not sure I understand your point.
Needs a capital raise to go another year. Dilution ahead.