I think 3.5p max post duster announcement is very optimistic as that gives a market cap of 70 million pounds ($AUD 110 million) which is difficult to substantiate.
G Drill #1 is a 99% chance of a 10-15 million duster right now - G Drill #2 if they actually do it will be the same cost most likely as it is not that far away from the first.
The current cash will run out in 6 months.
Puntland has been next quarter for 3 years.
Texas might be offloaded at 50 million max - remember we paid 1 million for it and no one wanted to pay more at the time and it is a slow burner.
So we would have 50 million in the bank (pending a Texas sale), some expensive dusters will have completed, and own a company in Trinidad and Tobongo running a loss with 200-300 employees - I wonder why the original T&T owners really sold T&T and what would it be worth now - at best it would be worth a fraction of the 75 million plus heaps of shares.
To that end, I would say 2p at best in 6 months but most likely insolvent and on www.delisted.com.au.
Can anyone form an argument against being on www.delisted.com.au possibly as early as 6 months but definitely within 2 years?
This board needs to be refreshed - the plank needs to be used - how long do I have to bang on about it?
RRS Price at posting:
14.0¢ Sentiment: ST Sell Disclosure: Not Held
