Beat me to the buzzer trader, great announcement, or should I say great 2nd last paragraph! (as we already knew of an increased drilling program, contrary to the first AUT announcement back when they announced their reserve-based funding facility).
I'd read the first 90% of the announcement and was very disappointed not to read any funding news, however then I Read the last 10% and that comment about the reserves-based debt funding facility brought a huge smile to my face!
Extremely happy with the news. Considering the 'locked in' value on offer from the Sugarloaf, CR at these low levels just wasn't really an option, and I'm very glad the company addressed this in the best possible manner.
We also get to retain our full original WI in the Sugarloaf.
EKA Price at posting:
21.5¢ Sentiment: Hold Disclosure: Held
