Schuepbach have done nothing and will only look after their own interests. To date, minimal (if any) cash advanced and if we believe what we were told they were short of cash and could not pay their share of the drilling costs which helped fuel the fiasco in the first place.
Prospex invested in Spain which is positive but let’s see what our % in the project is by the time the drilling starts... seems Schuepbach and PRL like to re~jig percentages to suit their own needs.
Coolcalalaya/Nth Perth Basin... Whose going to fund this project in the interim? Costs acruing but we have no cash in the bank. CR on the horizon?
Even an Exploration business at some point needs to take a project to finality and if successful monetise the asset to prove the business model works. Completing Uruguay should be the first priority BEFORE anything else and try and realise some value. Committing to additional expenditure when the pot is empty seems to be an unnecessary cost at the moment and I can only see the money coming from one source ~ The Shareholders!
Good Luck All
PRL Price at posting:
0.3¢ Sentiment: None Disclosure: Held
