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They have very little cash left.
You need to read the notes to the recent interim accounts which confirm there were 2 further cash calls after the accounting date plus ongoing admin expenses.

That Energy Voice article was pretty damning:
"“This is a disaster in my opinion. I am not sure how they will spin it. They are no further advanced than the previous operator. There is no vast attic accumulation. As I had thought, the (FWI) reprocessing by DUG was not done with proper geological input. The 80m low to prognosis is a terrible result,” one industry expert told Energy Voice."

“80m low to prognosis means 80m of oil column was not present. Substantial resource volume was not present. It is disappointing from a technical standpoint. Carnarvon will need to make a judgement about whether a commercial project remains, given the on-going technical uncertainty,”

They would need to raise funds first if they intend to do anything like that.
It doesn't sound like Carnarvon would be willing to contribute

Why did Amati sell some of its shares in FLX and will it continue to sell down its 15.76% holding?

I hope that is a joke Finch1

Good to see Colin striking a deal between AFP and First Quantum https://www.londonstockexchange.com/news-article/AFP/zambia-projects-option-agreement/15294553
No doubt he will also get a deal done for Racecourse/Ascot

https://www.londonstockexchange.com/news-article/AFP/zambia-projects-option-agreement/15294553

This deal announced today for the licences next to ARC's licences could get our share price moving

Very positive assay result on the the second porphry
This project keeps getting bigger and bigger!

How much cash does the company have left after paying for the well?

It is good practise to demonstrate to a judge you have done everything possible to try and settle a dispute before it comes before a court

MM clearly getting desperate for a settlement from ARC as the date of the court cases/arbitration approaches.
He wouldn't resort to orchestrating a smear campaign against the company on bulletin boards and twitter if he was confident of winning the cases. He's clearly trying to make as much mischief as possible to unsettle shareholders in the hope that it will make ARC offer him an out-of-court settlement to get rid of him.
I'm glad the company is taking a firm approach and not letting shysters like MM prevail

The vertical wells drilled to date are appraisal wells. It was always the intention that the next stage would be to drill a horizontal production well

This attempted smear campaign perpetrated by MM & BC has been all about trying to force the company into a settlement and their actions are further evidence that the claims are completely 'without merit' . I'm glad the company is taking a firm stance.

The share price should be 5p absolute minimum given the amazing drilling results, JV deal & strength of the commodity market

Fantastic drilling results!

It could be the case that the fund has had some redemptions so has to make an adjustment to its positions

Selling pressure at the moment.
Some people who were owed money and received shares in the placing are probably cashing in the shares now.
It's clear from the webinar, and obvious anyway, that TK finance won't be signed off in the short term and is at least a few months away (if it ever happens). The risk at the moment is to the downside so people are concluding it's more sensible to be on the sidelines until probability of financing increases

I was just wondering when another Atlas conversation would be announced.
They will be selling as much as possible when there is enough liquidity

The size of plant discussed in the interview will require CAPEX of well over $1billion so it's all pie in the sky at the moment.
Before even thinking about building a plant they would need to build up a large resource which will involve a huge amount of drilling which will need to be funded. They are already talking about needing to do diamond drilling which is far more expensive than the RC drilling already undertaken. Won't be long until the next fundraise!

What will the market cap be if the company is producing nickel?