IVZ invictus energy ltd

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IVZ Share Price, page-26038

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steve3110

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06/06/25

12:03

Post #: 79344443
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Originally posted by SneakyJonny: ↑

I feel like SM has stated what happened. Maybe I just inferred it but below is my recollection of what he said:
The plan was to raise enough funds to drill another well, flow test and shoot 3D seismic through a combination of the placement to sophisticated investors as well as the rights issue to existing shareholders.
The rights issue failed, therefore, there were not enough funds to proceed with the planned work program
As a result, Invictus needed to seek alternative financing routes and decided that a JV was needed to proceed with the work program because the company is no longer able to raise enough via the capital raises at a reasonable share price.
The JV is dependent upon the PPSA so we are waiting on the PPSA to be signed before we can get funding via the JV.
Therefore, once we get funding from the JV, we will embark on a continuous work program involving drilling at least 1 well, deepening and testing M-2, and shooting 3D seismic. This work program will last 18 to 24 months and will be funded via the JV farmout.

So the hold up is waiting on the PPSA to be signed, which has delayed everything by over a year. Would you agree that SM has communicated the above? If not, what items would you disagree with?

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Yes that all looks pretty spot on and not in question but that's not the point. We were told back in April weeks away. Prior to that it's been imminent. No problem that there are delays but shareholders should be informed. That's my 2 cents
IVZ Price at posting: 5.2¢ Sentiment: Buy Disclosure: Held
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Last 5.0¢		Change 0.000(0.00%)		Mkt cap ! $80.17M

Open	High	Low	Value	Volume
4.9¢	5.1¢	4.9¢	$63.07K	1.253M

Buyers (Bids)

No.	Vol.	Price($)
1	218246	5.0¢

Sellers (Offers)

Price($)	Vol.	No.
5.1¢	366031	1

View Market Depth

No.	Vol.	Price($)
1	218246	0.050
5	1372464	0.049
4	512500	0.048
3	1143297	0.047
4	664911	0.046

Price($)	Vol.	No.
0.051	366031	1
0.052	755917	6
0.053	963571	5
0.054	959496	7
0.055	1123722	9

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IVZ Share Price, page-26038

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