Going to be a very good Xmas for EXR shareholders if this runs up like STX did just recently!
Anything under .05c is a gift at these discounted prices.
MC = $24 Million @ .049c
Elixir’s cash reserves as at 30 June 2019 were around $4.3 million. The Company has no debt.
"The September quarter brings a lot to look forward to – not only the start of the field based exploration program – but also the ongoing development of our strong gas marketing optionality."
2D seismic program due to start Mid August.
Drilling two fully tested coal-bed methane wells commencing late September.
First drilling results????
Targeting Certified CBM risked prospective resource of 7.6 Tcf. That has got to be worth a hell of a lot more than a MC of $24 Million.
They know the gas is there. Just need to prove it's in commercial quantities. "Data from Tavan Tolgoi indicate gas contents of up to 15m3/ tonne (480 cf/ton)1, at depths of 467 metres below surface (high by world standards)"
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