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.
TIE Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held
