Australia's largest stock trading and investment forum Australia's #1 stock forum

SL1

0.00%

0.0¢ symbol mining limited

The price of oil has been in an uptrend since January....

First 8 Last

Share
Profile

Follow
sleuthtoo

475 Posts.

31/05/16

14:23

Post #: 17912480
Share

Originally posted by gottalovevmt ↑

And DMR taking shares at 4.3c instead of wages remember.

I was at the AGM today by the way.

Some would say that the most impressive part of the meeting, was the representative from the auditors.
Others would say that the Company was closing in on the final curtain and lets just cut to the chase and get the pain over and done with.
For those that stayed a little longer after the meeting and spoke to the Company representatives, their glasses may just be a little closer to half full than half empty.

Yes, things are looking tight. Yes DMR was expected to be at the meeting, but is instead over in Europe working his nuts off to secure funding. Yes, we'd have rather we had all the directors and non execs working for free so as to preserve coin. Yes, we all wish a cap raising was done earlier and at a higher price with no Magna. Yes, we wish that OEL would bugger off even though things will hopefully come to some mutual agreement anyway. Yes, we'd like a tighter board with more local broker popularity and yes we all wish that the price of oil hadn't plunged from $100 to $26 and taken every company's exploration, investment budget down with it.

But the bottom line is, it all happened and we are where we are.

As grim as it looks, I took away that our situation may be salvageable. Ok, so it may take some pretty drastic action and some luck, but I got the feeling that this may be a case of one of those knife edge calls, where we look back mopping our brow saying: 'cripes....how the hell did we escape that?'

Expand

The price of oil has been in an uptrend since January.
http://quotes.ino.com/charting/index.html?s=NYMEX_CL.N16.E&t=&a=&w=&v=d6

This should make it easier to raise money now than last year. I'm guessing convertible notes might be issued.

Wouldn't it be great if SWE got both Uganda blocks

There's more talk about oil prices reaching $60 or more in the next few months which will also help with SWE capital raising.
http://oilprice.com/Energy/Oil-Prices/Oil-Heading-for-60.html

SWE Price at posting: 3.7¢ Sentiment: Hold Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

STX

Strike hands $48.5M contract to Clarke Energy to produce 20x 4.5MW gas engines for Sth Erregulla

TG1

TechGen Metals kicks off airborne geophys survey at Sally Downs copper play – a first for the permit

MAG

Magmatic defines 6km copper trend with grades of up to 6.5% at NSW prospect

WCN

White Cliff wraps up Canadian fieldwork programs – 'visually confirming' a slew of minerals

LML

Lincoln repositions Kookaburra for low-cost graphite delivery