trading halt?, page-5

Last quarterly they had $1.35M in cash, down from $1.727M at the start of the quarter. That's not much.

http://www.asx.com.au/asxpdf/20111031/pdf/4225kz5kwgt10w.pdf

It looks like they may need some extra cash to finish the fraccing at Arrowsmith 2 and its not clear whether they had to fork out money because of the drill rig appeal fiasco but one comment I read was around 500K. If that's right, then they would be short of money now. Also, they are going to need money to fund the 3D mapping of EP426/EP368 prospect - their share being 20%.

So IF that's the case, could be a good time to increase one's holdings if there is a cash issue or placement and cash issue. Might only be a placement - we will soon see

Timing could be better and I think perhaps they were hoping by this time the fraccing and testing of Arrowsmith #2 would have been done with favourable results and thus a better share price conditions for a capital raising. Ah well, if that's the case, them's the breaks. Good for those who want to increase their holdings at modest price before the big share increase? Please DYOR.

W