Phone Conversation with Scott 11th June 2024, page-49

Should have asked how much dough he has left at the moment?

Must be getting close to being on the bones of their ass, that rig and the crew eating away at the bank balance.

Clearly no one took up any of the rights issue. Very sad that SM alluded in the fireside that the board would be taking it up, they didn't fork out a dime.

If there is any key indicator for me that they aren't sure if they will survive - not buying anything on market themselves, or participating in cap raises gives an indication of the confidence level.

I wonder how much equity they will have to give away to get moving, particularly when the stock is only valued at $80M at the moment ($50M can't be far).

Feels good to be out, I'll still be watching. The stock definitely stinks at the moment. I used to see the personal chats with Scott by HC members as a positive, now I see them 100% as a negative.

Especially when I never got a response myself when I tried calling.

Maybe I'll buy a small slice at 3c.