there has been a bit of selling pressure, but get the feel that the number of dumpers is reducing,
i think it has to be a balance of that we know a rasing may be coming, based on our cash pos,, but,, is it?
when do we get our first sales revenue?
So, decided to ring and ask, we have our yearly appendix 3y expected out in a few days, and there are sales revenues pending,, ie, our first sale of oil has not yet been recieved, but pending.
Thats the crux of whether we will need to raise or not?
Will said cash flow of pending sales, be sufficient, given that we are now able to produce going forward.
For mine, i think some will be betting that they need to raise, others,,on the fence, but cheap enough for a re-rating to happen when you blink for two seconds as well.
The announce of oils sales, when? who knows, give it a month and then ask questions, would certainly clarify that, although the 3Y may reveal as much in a few days.
cheers
AKK Price at posting:
5.7¢ Sentiment: LT Buy Disclosure: Held
