Governments have their own plans. They don't dance to the tune of a small O&G Explorer - its their country and their resources, so they will move when they are ready. The narrative that has been promoted was simply BS.
The objectives of Gov has always been about minimizing their risks and maximizing their rewards.
They are NOT going to risk their limited sovereign wealth funds on something that hasn't been flow tested yet.
Even the Namibian Gov have not forked out money on discoveries off their shores - and those have been Flow Tested already - with the latest reaching 14,000 barrels per day.
Another obvious sign was the Lack of Directors buying; they didn't buy into the CR, the shortfall or the current market price.
That should tell you, there is still a long way to go.
At the very least (IMHO), there will be another CR after June in a new financial year - probably at circa 5 cents per share.
In meantime, traders will trade this stock up and down. Whilst investors will sit on the sideline and watch for news.
IVZ Share Price, page-20682
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