CTP

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Ann: Latest Company Presentation, page-16

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justinmetals

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21/03/18

19:55

Post #: 31929706
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Originally posted by O&GInvestor ↑

OGP

Suggest you do a careful comparison between the Equity Raising presentation released as an announcement on 10Aug2017 and the latest one per this thread, as language is starting to change.

Slide 17 of 10Aug2017: "If the prognosis is confirmed by drilling, 377.7 PJ (when combined with the existing 125.9PJ (ie. 3 x 125.9)) would represent tripling of potential reserves in time to have delivery coincide with the NGP becoming operational."

Slide 7 of today's announcement omits the words "in time to have delivery coincide with the NGP becoming operational." and on Slide 5 notes an "Aim to triple Amadeus Reserves over the next 2 to 5 years if successful - subject to financing"

I am not being overly negative here, just trying to flush out the truth. The Rights Issue which many of us subscribed to was going to use the $25m raised for a 4 well programme to triple reserves in 2018. One well drilling has now been dropped (WM25), which appears to have negligible impact, however while Ooriminna still appears on Slide 7 contributing to a tripling, Slide 5 no longer indicates it in the immediate drilling programme.

Am looking forward to the drilling beginning at WM26 shortly, and the Palm Valley results soon theerafter. I would like confirmation however if Ooraminna is still in the 2018 drilling programme thats all.

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OGI
there is no truth. Really, none of this surprises me and if you take it all with a pinch of salt nothing has changed! I just don’t want anyone to believe there is any conspiracy or untrue messaging going on. Purely, good corporate governance and practical management of expectations in my opinion.

CTP Price at posting: 12.5¢ Sentiment: Buy Disclosure: Held
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Ann: Latest Company Presentation, page-16

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