I don't think so. OH2 was slated as a contingent well for late 2024. So STX will have about 4-5 months between ED1 and OH2 to bank the money in order to fund the drill, and OH2 drill cost will be closer to Walyering wells than the deep Kingia wells.
IF STX does need to raise capital, I would be extremely annoyed (more like utterly pissed) if the company decides to do a placement (which would allow the shorters to participate and make a nice profit after being responsible for hammering the share price down to begin with). What would make more sense is for the company to do the right thing by its holders with a rights issue. Then existing holders will have the options not to be diluted by taking up their entitlements, while the shorters will be faced with having to cover on-market and push the price back towards its fair value.
618
Money mine mention, page-47
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