It says no less than 85%, it might be more but we all know to expect the worst case with calima. It says they have 4mil in cash+ 12.5mil from sale+ whatever cashflow they generate in q1 (remember we are at peak production + no drilling so low capex). Why do they need all this cash?
Ann: Cash Sale of Blackspur Oil Corp for A$83.3M, page-25
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