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0.3¢ austin exploration limited

Ann: Successful Placement of SPP Shortfall, page-28

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35,472 Posts.

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27/06/14

14:37

Post #: 13580898
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Originally posted by colquhoun ↑

BBB

AKK were always going to place the shortfall. We have great assets but the cash position was appalling. It costs Halcon $9 million to drill ONE well. We have $6 million cash in total. We are out of our depth until the proposed funding is secured then it's game on with multiple sources of cashflow coming on stream in succession. Shareholders can't complain. Everyone had the opportunity to purchase at 1 cent. In fact, if everyone did, no shares would have gone to SI's. Everyone has had a chance to take (and still do) a 20% profit. Not many have. This is high risk/high reward. If the next EFS results are anything like Stifflemire and the funding can be secured then this company will be transformed and SH's will benefit greatly IMO. Best not to get distracted from what is actually beginning to happen here.

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"AKK were always going to place the shortfall."

that's correct, rest is just more noise.

AKK Price at posting: 1.2¢ Sentiment: Buy Disclosure: Held
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