There are two things in today's announcements that are unclear to me:
1. In the Directors Report (page 12)it is stated that the $7.5m reimbursement has still not been received - they are waiting on the remaining conditions precedent being the signature of the relevant association contract.
Is this still reliant on ONHYM signing off? The Chairman says ONHYM were concerned about the resignation of 2 directors. Are they happy with the status of the company now?
2. Page 9 of the Investor Presentation says that there are 3 targets in the TAO-1 drill (Trident, Assaka and TMA), but the indicative well cost of $75m is to intersect Assaka and Trident. It says TMA is contingent on success at Trident. Will the $75m cost go up if TMA is also drilled or is this already factored into the $75M +- 25%?
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- $5 per share on success
$5 per share on success, page-43
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