Completely agree with your comments. Flow rates are the short term key for the share price. The recent capital raisings have facilitated an acceleration of drilling/etc to unlock the key to how these coals behave... The downside is dilution.. But to get this project moving they need cash now... If I could draw a comparison with Queensland Gas (QGC). When Richard Cottee took control and the stock was on its knees, he did 3 capital raisings in the first 12 months to get it going... Final price that they got sold for was over $5bn... Not that TOU is a QGC, but the TOU potential reserves are significantly higher than QGC... The flow rate from the current well (Lesesi 6) should hopefully give us some indication of what these coals can do...
TOU Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
