ANOTHER PLACING CANT BE FAR AWAY.27 Dec 2024 12:50
With the company saying on the last fundraise that it is fully funded for 1 year, it should have cash for the next 3 months only. Obviously they will not leave it 3 months to start looking for new funders. It may just be starting to sniff out who will fund the next placing. Poor bastards who bought in on the last fundraise are now 50% down. The future does not look bright. Oh new prospects and leases, but more drilling costs can only be funded by new placings. With 29 billions shares in issue anyone want to bet on a consolidation in the next month or so? Those last drills are non commercial and the company is kept afloat by more and more placings. Not for me this one.