Run -up to the drill - true - but from what base?
Share register is around 480 million shares, so lots of room for dilution.
Players at this end know a punt from 0.002 to 0.004 is still doubling your money and that's what I would be afraid of.
Smart money entering after the raise to punt the pre drill scenario.
Connecting Borba would have rewarded loyal shareholders with near term cashflows.
Existing shareholders are in a game now.
Above is not financial advice and my opinion only.
Ann: Philippine Operated Services Contracts Update, page-30
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