RE: Proactive article today23 Apr 2021 13:31
You really couldn`t make this up. Starchild IMO, I figure you are not invested here really as again the board have pulled another one to give real shareholders a kick in the guts. Keep up the constant `deep dive` ramping posts, keep trying to see all the sweetness reading between the lines. If you really are holding your so called millions you would not be feeling well today. However when you read real lines like below, they will just continue to dilute further and further, lower and lower, change name, change board, wash rinse repeat at shareholders cost. As below, even with success they are going to dilute.
Well done Starchild on your trading rampnation strategy, keep it going. I will need it for when I get back in!
In circumstances where the Saffron #2 well is not a success, the Company will be required to secure capital from alternative sources or the Company would be required to effect greater reductions to overheads, negotiate greater reductions in cash required for settlements as described above and/or not proceed with or defer discretionary expenditure on all or some of the work as summarised above.
Equally, in the event of success with the Saffron #2 well in Trinidad, and/or success with the WNZ well and EWT in Suriname, the Company will need additional funding to pursue development of those projects and for general working capital purposes, presently estimated to be $15 - $20 million in additional funding required through the balance of 2021.
In any of the above-noted circumstances where the Company would look to secure funding by way of alternative sources to meet any funding shortfall / incremental funding needs, there can be no assurance that the Company would be successful in securing any such alternative funding