I think the BOD has made a very smart move here since the debt providers would have put handcuffs on the project. As I see it now and assuming that we have 734 million shares in issue (MCAP 377.8 million at 51.5c) and we issue a further 260 million shares taking us to 994 million shares then the average annual free cashflow post tax equates to 14.9c and project free cashflow post tax equates to A$1.62. Looking at 31 December 2021 cash position and debtor for funds on the way I am sure that all is now set to rocket. The latter part of 2022 might see the rigs picking the surface on other licence areas in country and Liberia.
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