The rig and its technology are backed by patent and in Matt Birneys words if they are copied even a year or two the company will take legal action to protect the intellectual property.
The 2nd tranche will be taken up because they have already given their committment to Cygnet and Patto's. To reneg is not something done by sophisticated investors if they ever wish to be given placement opportunities again. Also even at 15c the placement represents fair value so no chance of it not being taken up imo. Of course the money is not in the bank yet but soon will be.
Extemely positive meeting and announcement for anyone that has a little bit of vision.
Not one negative for mine
the only thing required now is deep drill proof. Something Warren doesn't believe it needs but if thats what the market want then roll on November.
I defy you to wait until November to purchase :)
I will make the call and say 30c + before end July
your call?
CKK Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
