The anomaly I find interesting is that market cap was $200m+ prior to the raising, despite having $50m in debt and an uncertainty whether they would be able to raise the funds.
Now with the knowledge that the debt almost fully paid off, the market cap is under $100m.
It has to make one think what could happen to the share once once the issue overhang clears.
Ann: Kavanagh Drilling Update , page-14
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