gkontro, looks like we can both be in need of an update.
If you read the Annual Report on p10, it states that VIL had invested in Fausse for $US400k, and will pay 66% of costs of well, that share expected to be $US720k. Total Oz cost about $1.25mil. The rig is hired on a daily basis, and is already over the time expected to complete with further delays and thus cost blowouts.
The coy raised $528k last cap raising, and had $574k on hand at 30 June , less other expenses to date. How do you think they are going financially to complete their well obligations? What is your estimate of cash on hand currently.
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