RE: Encouraging update19 Oct 2023 08:21
Armada, why are you even commenting when, and not for the first time, you don't read or understand (probably the latter) what the company are saying? It says UPTO $6m. They are not committed to that - they can back out (see below). They also state they are looking at potential partners.
'It is currently forecast that the cost of the Commitment well will be up to circa US$6 million, and the Company has commenced conversations with industry participants (including infrastructure and existing helium-focused companies) to jointly fund the drilling of the Commitment well. Alternative options include funding the Commitment well from Zephyr cash resources or not proceeding with the project. The Company does not intend to raise funds for the Commitment well by way of an issue of equity.