No brainer, whether funds come in or not. Tranche A for A$40m supposed to come in soon, but do the simple math...
Shares on issue: 286,854,868
Tranche A: A$40m/286,854,868 = 13.9c/share.
Tranche A+B: A$302m/286,854,868 = $1.05/share
Total Market cap for IPB $8-9m(@3.0c/share).
Quay is experienced in the Oil/Gas sector and is not just a passive investor, check the CV for CEO. https://quaycorporation.com/leadership-team
Why would Quay want to pay Tranche A(A$40m) and then Tranche B(A$262m) for 50% interest in the asset, if drilling is successful? IPB cannot move forward without Quay.
The funds are in !, page-51
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