the way i look at it is like this. 2024 has a lot of macro uncertainty, and with this extra cash they won't have to raise in what could be a very tricky market.
Price not ideal, but they have the discovery, and are drilling constantly, so value creation will come as MRE is announced.
Bit of patience required, no biggie.
None of the fundamentals have changed for the worse, drills keep hitting broad shallow spod.
Read the last quarterly, 1.6 quarters of cash left, even with a slower burn lets say 3 quarters of cash left - but we don't want them slowing down do we?
Clear suppression of price, i've been watching the action daily, and there is no doubt insto's have been selling this down to get in cheaper at the raise. It's what they do, that is why greedy fat bankers, are greedy fat rich bankers.
I remain positive
Ann: Trading Halt, page-37
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