Your thinking is a possibility but if the SP heads north at any stage on the back of the FMG farm-in JV of EL 6416 and EDE investment, then I don’t think they’d have any qualms about another capital raising to go drilling Pernatty. After all they have already potentially “given up“ a fair bit with EL 6416, but it was a smart move IMO.
Ann: AGM Presentation, page-19
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