Ann: Significant upgrade of Kingia discovery at West Erregulla-2, page-8

The only thing holding this back at the moment is funding and I am not sure when or how they will execute this, although I doubt anyone including the BOD wants to be diluted from hereonin.

Mr Market being conservative due to the elephant in the room, a CR of some description being likely within the next 2 weeks... (WGO and STX imo) IF funding to complete Production and Flow Rate Testing has not been accounted for in the existing cash in bank? If they already have sufficient money to complete these processes then we may not have any necessity for one short term and wait and see how the dice fall from results and third party interest.

If they choose to raise then Once they have an acceptable 30 day average to raise at (and it is a possibility we may dip back into the A$0.2’s On or around this time) before building back up to flow rates announcement and a possible buy out. I say this on the premise they raise through a sophisticated investor rather than existing shareholders (for speed) giving them the opportunity to profit from the pending results.

If this happens (Mid A$0.2’s) I will definitely consider topping up with a one to three month hold for Company changing news. A CR and a dip in the SP with what’s happening would be just too tempting depending on what the terms of the CR are and how much the BOD throw at it personally. A lot of shareholders would get twitching selling fingers under these circumstances, hence I suspect the SP would fall, Which it may anyway in the absence of regular news until we close in on the flow rate results.

Big tick of approval if ALL of the Directors participate which I expect them to do under the circumstances.

I say get it out of the way sooner rather than later and focus on results.... and a takeover!

Better to negotiate with an asset and cash in bank rather than looking cash strapped and vulnerable to low offers. This is a major discovery and worth a lot of dollars for a potential Buyer. Let’s have our BOD in a strong position when negotiating. Even after a conservative CR I still view this as A$0.75+++++

In summary;
Necessity for a CR ~ SP moves South short term
No CR ~ SP continues to move North up to results.

50/50 ??

Still Not selling as view a CR as short term pain for long term gain

All in my opinion and Do Your Own Research.

Good Luck All