The cash flow statement showed that the cash in hand is only sufficient to last about 1.7 quarters. However the explanation given was adequate to explain that the bulk of the expenses was due to the drilling cost and a moderate expenditure is anticipated for the remainder of the financial year. It also states that they are in talks with strategic investors which are currently confidential and incomplete.
I guess the down today may be attributed to profit takers and hence not too worried about it.
Ann: Quarterly Activities and Cashflow Report 31 December 2020, page-44
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