Timing
The $65 million cap raise documentation in March 2021 provided a timeline for the commencement of the Eromanga Gas operation as being operational by June 2022. During the year to June 2022, the company capitalized $10 million of expenditure and interest on Australian assets. I can’t help but wonder if there is say only a further $10 million or so to spend, why is the project now looking like being 12 months or so behind the date provided at the time of the cap raise? It is not a lot of money in the scheme of things and had they met the timeline projected then we would now have the cashflow to spend on bringing Gilmore online. Something is missing here that needs to be explained.
