RE: Hit a nice target and 10p+31 Jan 2019 12:26
The Company’s strategy for over a year has been to fund our initial exploration activities in the SWP from cashflow generated from our operations. At the end of 2017, Columbus became cashflow positive from operations and is currently following an active campaign to grow production and cashflows, including through the addition of the Steeldrum assets which the Company believes will provide many new areas for early production growth. It is intended that future exploration activities will be funded by this cashflow and from existing resources, with the initial drilling campaign still being planned for mid-2019.
Management are 100% aligned with shareholders and are investing in the Company on a monthly basis by taking 50% of their remuneration in Company shares. They have no plans to introduce measures which result in significant dilution for shareholders.
On exploration success the Company would seek to progress innovative additional funding arrangements in an accretive manner to appraise and then develop the SWP and has had discussions with numerous parties interested in assisting the Company unlock the huge potential of the SWP. There are plenty of financing options available to the Company that would not result in significant dilution should the Company see success in its exploration activities.