To me there are a few of key issues killing the companies prospects at present.
1. SM speaking about alternative forms of funding and companies biting his hand off to obtain access to future production. This hasn’t eventuated and creates a degree of mistrust in the market.
2. Opaque funding. I would like a real breakdown of funds to complete MK2 is there still money owing? Were we not fully funded for 1 sidetrack if needed and a flow test?
3. Please don’t tell us you need funding to “prepare for 3D” either fund the whole thing or reduce the amount being raised.
4. The companies inability to finalise the PSA is telling. It speaks to being unable to close a deal with the government despite the process going on for years. This raises many concerns for me, namely the true state of the relationship with IVZ and the Govt and “who else” is the government speaking with.
We just spent 40m + over the last 12 months, declared a discovery and we are at 11.5 cents. What is the markets know that we don’t?
IVZ Price at posting:
11.5¢ Sentiment: None Disclosure: Held
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