Sure, he could have fast-tracked the drilling of the other wells, but that would have required extra funds.
He could have gone to the market and asked for cash to fund the drilling, but that would mean more shares. I don't see any concerns with the current number of shares on issue. Still, we are definitely on the high side, and consolidation may be required once things are running.
He could take on debt, but we would be playing a dangerous game without income.
He could set up a farm out, but that's what the gas was for.
So, the only option left was to wait for an income stream. The original timeline was to have the gas income long before now, which would have allowed drilling in 2023, but it didn't materialise. This left us with little other option than to wait.With income comes the progress. I am happy to be here and keep my money invested, but this year will be make-or-break for AK. He has no excuses, but he is delivering just later than expected. Besides having better announcements with more information, I don't know what else AK could have done. So many holdups were out of his control.
ROG Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)