Won’t be for long - I’m still confident this business has huge upside. Unfortunately it appears this raise was necessary in order to secure the long term funding position needed to untap the massive potential sitting before this business.
What hasn’t changed is that all the fundamentals and the right team are there to begin continuous drilling.
With the Balance Sheet now sured up and a proven rig crew secured and about to commence, this is a very compelling story for both the funding institutions (who profit well from these type of businesses “when well run”) and for insto’s who like recurring cash flow businesses.
Fingers crossed - subject to no more surprises, we should start to enjoy some serious drill production results and corresponding share uplift.
FDM Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
