We had similar situation with PLS.
I was adamant PLS would have to raise a decent chunk to ensure any uncertainties or delays were covered financially. That is the last time you want to be going to market with your hand out because you will be crucified by the money men as you have no leverage.
Most said that there was definitely not going to be CR.
I would have to go through fully the finances to be sure but a preliminary guess
on my part points to more capital being needed in some form before production. Finances seem too tight for ongoing drilling operations, day to day business activities and construction contingencies/unexpected delays. The lack of SP interest also points to this being the case. Its seems most holders dont want to discuss this option or aren't sure and are refraining from comment, not sure which one.
TAW Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
