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30/03/23
10:27
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Originally posted by stumpytrunks:
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No, they bought a platform to have optionality on developing a future discovery, not specifically SM70. Strategic lease optimisiation (expiration, re-bidding) should be commended as a prudent strategy to retain an interest whilst deferring drilling commitments. It's effectively banking an option on a non-primary asset. As far as not being able to afford to drill...that's a bit of a throwaway comment that ignores the many mechanisms available to an ASX listed company to fund its operations. They're purchasing a future pipeline of potential opportunities that they have a choice over whether to drill (and when) or not. This comes back to an understanding of the company strategy.
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..what a bugger though another 3 or 4 months waiting....