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4.6¢ buru energy limited

Ann: Rafael Resource Update and Regional Exploration Potential, page-10

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5,252 Posts.

1203

26/07/24

13:30

Post #: 74932219
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Originally posted by CEOChair: ↑

For bank financing, we’ll need to have converted contingent resources to booked reserves, which I assume is still planned subsequent to the initial Rafa retest/appraisal program, bumped to this time next year. So yes, in the fullness of time, but right now, we need cash injections from flogging off a founding stake in 2H, oil revenue following Ungani restart and Rafa MainGame farmout, which I imagine will still be ~$150m total value including cash ‘n’ carry. I’d love to see $50m cash in there. Then, as CSB mentions, we’re betting the house on a Shallow discovery - that revenue stream could change everything funding-wise and today’s news is a game changer in that regard because it’s now likely we have Shallow lookalikes all over the shop.

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Yes I agree with the conversion to booked reserves. So when we get to the FID on Raffa will we have a bankable asset.
I can’t attribute any value to our hydrogen prospect, as I cant see any float being too successful. Best thing to do with that is to flog it off to the mob next door.

BRU Price at posting: 8.6¢ Sentiment: Hold Disclosure: Held
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