The proceeds from the Placement will be applied towards progressing Pura Vida's Nkembe project (offshore Gabon) towards farmout, the upcoming work program on its Ambilobe project (offshore Madagascar) which will include a 3D seismic survey and acquisition of 2D seismic data, and working capital to ensure that Pura Vida is fully funded as it progresses towards the free-carried drilling of it's Mazagan project (offshore Morocco).
If you don't understand any of the above feel free to call 08 9226 2099.
The capital raising was low,but not low enough to crucify the companys board.
The price will recover in good time.
GLA
PVD Price at posting:
61.0¢ Sentiment: Buy Disclosure: Held
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