"Final bids into the placement are due at 11 am on Friday" & ""The company said the fresh funds will be used for the “initial drilling of an onshore well at the North Rukwa Project”, in a term sheet seen by Street Talk.""
So is the farmout not going ahead as that was meant to fund the drilling?
If the farmout isn't going ahead does that mean there was only one farmout bidder and then they couldn't agree to terms with NHE? Or NHE have now decided its better to go it alone with a capital raise and no farmout partner?
NHE Price at posting:
24.0¢ Sentiment: None Disclosure: Not Held
