stumpy let’s be honest if they had anything positive to announce re interest rate being relatively low or royalty limited to a well they would of disclosed this.
royalty rate of 12.5% of all wells current and future eats up a significantly larger share of net income noting 12.5% royalty could be closer to 20-25% net revenue depending on cost of production.
surely a CR of 20% of shares on issue @0.3c would of raised $870k and not be subject to interest or royalty payments going forward. Hard to explain how possibly the route taken is in the best interest of shareholders.
wouldn’t giving a royalty interest need shareholder approval in any instance ?
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