You got it, and this type of question needs to go to the AGM.
I have already suggested that we are where we are, due to the static blunder of squandering 7m+ and 1.5 years on a "Semi-plugged" hole, which led us to being bent over with the last Cap raising—noted only TRENT had his grubby hands in the till on that one. Plus, now with Gas flowing in the pipe on the way to customers, we are @50% of any profits instead of 100% and self-funded.
Directors past and present have proven several times that the new kitchen benchtop is more critical than suffering shareholders.. So I dont wait for baited breath, they will do anything favourable for shareholders that have paid for the last 4-5 years of their antics..
Harsh comments, but while I applaud these last successful drills, it's better to prepare for disappointment than to think they are actually about to bring any shareholder value at this point.
We see this already: instead of a contract announcement, they are already lining up the market for a raise for another adventure via drill testing another patch. While maybe long-term, this proves itself to be of value,
Really?
And this is the problem, isn't it?
.....They are not finishers.
The thrill seems to be in the chase, and the leases signed are more critical than bringing any short-term value proposition to holders.
This has allowed them to sell the dream to 'friendly' brokers (Note that these have come and gone over the past few years) with these hugely discounted raises and dilutions. We are yet to see another Named Fund buy-in that sees the value proposition. The last one sold out some time ago.
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You got it, and this type of question needs to go to the AGM.I...
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