SWE are running out of cash quickly. Only $950k in the bank at the end of March and they are burning over $500k a quarter just in admin costs. So that means they are now down to maybe $750k already today. This is getting into the hot zone where some market players just do not go - they just do not buy until funding is resolved.
So it seems we enter an interesting window where SWE's quarterly suggested a farm-out would be done within a couple of weeks. All positive of course when it occurs.
But the key question is will a farm-out involve repayment of SWE's past costs?
This is not the case for every farm-out.
So I will believe it when I see it, and even then it will be a question of how much and is it enough to resolve/remove the short term funding issue.
Cheers
Gosouth
- Forums
- ASX - By Stock
- SL1
- Quarterly
Quarterly
-
- There are more pages in this discussion • 53 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SL1 (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CC9
CHARIOT CORPORATION LTD
MD - Shanthar Pathmanathan, Geologist - David Trabert
MD - Shanthar Pathmanathan
Geologist - David Trabert
SPONSORED BY The Market Online