Good to see plenty of cash in hand, although it does seem they will be using a chunk of it over the next 6-12 months. Not the end of the world though, obviously this is a high risk high reward play, but at these prices the risk is certainly lessened.
As said before in other threads, these guys are all or nothing. Which I'm fine with. Nothing worse than sluggish management getting paid to do nothing.
All in all nothing screams excitement to me in this announcement, which also seems to be the market sentiment looking at the low volume today.
Happy to hold and see how it plays out, if any of the projects show strong results, we will see a fast and hard re-rate which I'm sure we are all waiting for.
Potential buyers appear to be waiting for some substance in the results before entering, however the sell side is looking VERY VERY thin, so if someone wants in, they will have to pay for it.
It does seem like a lot of news flow is coming over the next 3-4 months though so that is always good to see, now we just need the news to be exciting!
Goodluck
Good to see plenty of cash in hand, although it does seem they...
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