Finally got around to listening to the shareholder briefing.
Overall, it was both heartening and convincing with regards to the progress being made.
It is also good hear they are looking to have 18-24 months of funding covered by a farm-in (or other funding agreement). You'd think this would be in the $50-100 million range, depending on how many wells they plan to drill.
This suggests that they are prepared to give up a large chunk of equity in their tenements. I'm just wondering what form this might take.
Perhaps they will offload, say, half their stake around the Mukuyu wells and then focus their attention on the shallower tenements out east?
What are peoples' thoughts on the likely shape of any farmout agreement?
Overall, it is good to hear that a few major hurdles will soon be navigated, and they will be back to drilling.
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Finally got around to listening to the shareholder...
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