After speaking with Tom last Wednesday at the RIU Conference, i think i can pretty safely say that there will be neither a CR nor an issue of shares for drilling at these levels.
There is no urgency for either.
Use your cash when the sp is low, raise when it is high[er].
We have almost three quarters of cash left at the current ~$3m burn rate ...
With ~80% of cash going into the ground and not into management pockets we are getting good value for money ...
What i think we can expect is a steady flow of positive news, a building of the initial MRE and a growing understanding of new loads, geometry and minimisation controls ... hopefully enough to get our share price north of where we are currently.
Just imo
Perdy.
BRB Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
