Definitely wasn't expecting this reaction and i was negative on EXR in the (high) teens given i thought funding would be an issue at the Tarroom.
At 6.5c, take-up of the SPP wont be substantial (read - nothing).
i guess then if you aim to raise $10m and get $7m then it may affect things given you raised 30% less than you thought - even at this discount.
the term sheet i saw had the $3m from the SPP to be allocated to Taroom, so i guess in a round about way....will they need to raise again?
Can't imagine debt, even if they do get the full R&D (and that is still an "if" as it needs to be formally approved), will be cheap.
I just think that if the Grandis project works well then this will bag from here...and thats our way back....7c will be a fraction of that future share price.
And if they only get $7m out of the $10.5m I'd rather that be spent in QLD than Mongolia - which has proven much more difficult than we hoped....and success in QLD will be so heavily rewarded and so topical given the activity in the area (infrastructure too!) and a gas crisis that isn't going away.....
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10.5¢ |
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1 | 30935 | 0.097 |
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Price($) | Vol. | No. |
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Last trade - 10.38am 17/06/2024 (20 minute delay) ? |
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Change
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