IVZ media thread, page-7327

Well the text messages have pretty much summed up what has happened.

The rights issue 15 mil was really needed to get the flow test done in June.

They probably would have also topped up another 10 mill 'contigency' before the flow test to sopho/PAC investors again or possibly this woudl have come sooner from Zim investors if they new a flow test was coming.

This hasn't happened and the cash they have left even with the Zim raise is not enough to do any flow test as they are burning all this on keeping an idle rig till the next major cash injection.

The state is they are waiting for the PPSA for the next JV cash injection and the most likely scenario is next year now for anything to occur.