Looks like Mining Nut was 'bang-on' .. well almost , i recall he expected cash position to be $7m vs actual $6.7m.
Good to see well researched and accurate posts on this thread ...imo.
Now , OEL will spend at least $4.8m by the end of June and likely wont see positive c/f from Galoc until at least September so (as Mining Nut suggested) a cash injection is required.
Further note dropping of acreage at SC50 and SC51 ... not a good look as obviously Farminees not the slightest bit interested.....imo. Also in SC51 the "planned 2d seismic on Lete Island was cancelled due to weather" ... this conflicts greatly with GGXs quarterly which advises that no onshore 2d seismic services exist in the Philippines .... DYOR
The FPSO delays have hurt the Co badly , but thats the development game (just ask AED!)
Get the feeling the Co is a tad over-streched and the recent SP is indicative of this. Will keep watching but looking a S/T sell at best now ....imo.
Awaiting NDO quarterly now ....
SALTY
quarterly: cash position
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Last
1.1¢ |
Change
-0.001(8.33%) |
Mkt cap ! $52.74M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.1¢ | 1.1¢ | $29.07K | 2.643M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 3624114 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 4596047 | 7 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| OEL (ASX) Chart |