They didn’t really need the extra money so I don’t think it will drop further. They probably wont drill Lochinvar and will need to focus on finding a partner or selling it instead
Some news on Redmoor can’t be too far away either.
But given the share price they might as well go hunting for new projects and raise money on the back of that (although management’s track record isn’t good on this front, probably best bet is Redmoor as someone else is running the show)
Ann: Lochinvar Coking Coal Project - 2017-18 Exploration Program, page-106
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