There are about a dozen companies exploring for shale gas in Australia. Many of them ahead of NWE in their development.
Can you give us one example of a company doing as you posted:
"NWE will not have to raise capital through trusty shareholders - some sort of convertible note will likely be how the company moves forward (check out how the mining companies do it after JORC compliance). "
In fact, you can include the CSG sector in there as well as they are similarly unconventional gas plays.
So that would probably make it 2 dozen companies. Is there one example of a company issuing a convertable note before 2P or even 3P reserves were certified?
NWE won't have either of those at the end of this program. Merely a contingent resource estimate.
Let's not fantasise. I like what NWE has in the permit, but it will need to raise capital by issuing shares.
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