50 mil bond strategy

The lodgement with ASIC of the bond prospectus and subsequent issue of 1 Mil against this facility should have erased any doubts for holders, JV partners and the market that CTP can access these funds when required. A good demonstration of strength by JH.

CB suggested yeaterday that a seller could be DBZ dumping its converted bond subscription holdings. If so this had little or no effect on the sp as it traded in a tight .005 range (I think JH mentioned this before).

What it indicates to me if this should be the case is that CTP is now in the position to access additional funds under the facility as and when needed and that the Max 15% holding of DBZ under the prospectus really is not an issue.

IMO when the daily av exceeds .1 we will start to see some additional draw down on the facility 4 to 6 Mil at a time. Great to extend our own capacity to purchase Rigs, Semestic, or put more holes in the ground. Also good to fund the campaign for more than one season.....continual drilling to firm up resources may be on the cards viz EPA 130 agreement.

Anyone else have any constructive thoughts on this....