Challange with this one is short term cash flow. CL > CA albeit only just. Operationally they do fine, borrowing costs are chewing into the cash balances, so how they manage that is important.
A partner is critical, not only to take on some of the drill work but to structure an arrangement to help boost CA. Raising capital at these prices are not ideal but expect if a partner is gained and we see a strong uptick in prices, we'd then get a cap raise at higher levels. I'd be ok with that if it's to partially fund growth.
Ann: Annual Report to shareholders and Appendix 4E, page-12
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