Ann: Debt Refinancing and Drilling Program Update, page-83

First 83 Last

Share
Profile

Follow
boysy1

9,290 Posts.

757

13/05/21

16:35

Post #: 53157308
Share

Originally posted by stumpytrunks ↑

Good that you've put some numbers out there. The only major hole I can see is in the estimated cash position for Q3 and Q4. You've applied row 15 into perpetuity, whereas a $825k figure should be applied to Q3k, and $0 to Q4. This should result in Q3 balance being approximately $3.7m and Q4 balance being approximately $9m.

Factor in a one month lag in receipts meaning that figures are effectively $3m underquoted for any time period; and likely 60+ day terms on drilling costs (where circa $2-3m of net income would accrue) and you effectively have a circa $5-6m addition of genuine liquidity on top of the revised $3.7m/$9m figures.

The point does remain that they will be battling to drill purely from cashflow, but a lot will come down to the payment terms of any drilling operation and the costs of drilling in an environment where a lot of drilling crews are idle. I'd want them to have the credit facility locked away prior to drilling in case they need to sidetrack.

Expand

Stumpy i have checked my figures and i can confirm i have not applied the $825k repayment figure into perpetuity i have applied this to the May/June/July/August figures (2 months of Q2 and 2 months of Q3).

Big call calling delayed payments genuine liquidity as we head into the GOM hurricane season (June-November).

BYE Price at posting: 12.0¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

Reply

Top Stories

SHN

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

TIG

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

A3D

Defence MOU for propulsion systems pushes Aurora Lab shares higher

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

RAG

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

CXU

Cauldron Energy reports "excellent" uranium assays in latest drill run

NWH

NRW Holdings inks $109M deal with BHP for works at Jimblebar

IMA

Issues emerging as Australian companies tackle critical minerals challenge

There are more pages in this discussion • 64 more messages in this thread...

First 83 Last

Add BYE (ASX) to my watchlist

Ann: Debt Refinancing and Drilling Program Update, page-83

Top Stories

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

Defence MOU for propulsion systems pushes Aurora Lab shares higher

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

Cauldron Energy reports "excellent" uranium assays in latest drill run

NRW Holdings inks $109M deal with BHP for works at Jimblebar

Issues emerging as Australian companies tackle critical minerals challenge

Featured News