For what it's worth, here is my usual 2 cents worth for this announcement;
The Good - The Company is looking ahead and has an ambitious plan for unlocking the potential value out of it's extensive acreage, taking into consideration it's current & forecast cash position, and risk-based exploration opportunities - Farmin or selldown opportunities, if they can be realized, are a much better option for shareholders than capital raising at the current SP - Eyes are still on the huge Dukas -1 (potential) prize, and this isn't being further farmed out. Dukas "look-a-likes" are obviously high on the agenda for the real future prize. - Kevan Quammie may prove to be the best recent resource this company has had, if even only half of these CY2020 exploration plays are proven - More details coming next week... bring it on!
The Bad - The plan still requires external stakeholders to want to buy into our existing assets to fund the program; if this doesn't go to plan imagine we won't be drilling much. Let's hope LD has some interest already in the bag.
The Ugly - One now has to wonder what the hell the board & RC were thinking in 2017 when previously we were told Ooraminna had a most likely case of 120PJ, and now it doesn't even get a consideration in the short-medium term future drilling.
CTP Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
