This might be the best outcome for ARE in the short-medium term.
They have roughly $2m left and can't afford continued wasted money on this drill campaign. Better to retain cash to try and drill somewhere else and restore some value before the next CR.
I imagine ARE have put some thought into the announcement today (rather than just an off the cuff reaction) to try and wrestle back control over drilling. Maybe not the best way to go about it, but it's done now so time to move on.
Ann: Curtailment by Aeris of Torrens Stage 1 Drilling Program, page-68
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