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0.9¢ xstate resources limited

Ann: Strong Gas Shows Continue at Borba Discovery, page-113

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Greenocean

2,910 Posts.

523

20/03/21

18:05

Post #: 51918833
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Originally posted by debono: ↑

I thought it may have been a joke hence my response but maybe not. Some buy in on tips or hype and XST certainly has it's share of supporters.
The relationship though is a tad more than just partners in various oil and gas plays. GJ was MD at XST for 3 years before taking up the role at SGC so they are pretty well joined at the hip like brothers. SGC is the big brother and calls the shots. XST has 2.7b SOI which whilst quite a lot it provides that valuable liquidity. If Borba and the greater Borba trend is successful then we may see a consolidation imo very soon because it will be difficult to raise cash with so much scrip out there. If each drill is costing $5m and XST need to front up with around $1.85m (37%) then they would soon be over 3b SOI which again isn't the end of the world but at some stage punters will baulk against the dilution imo.
Solution is do a consolidation imo.

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Merger then consolidation is my tip DB

Dont hold but Gltah, we are all in the same boat.

XST Price at posting: 1.5¢ Sentiment: Buy Disclosure: Not Held
1 Upvote

0 Great analysis

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