IVZ

1.61%

6.3¢ invictus energy ltd

Wow those are some big words.Won't be pumping by April. Look at...

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79 Posts.

32

14/12/22

08:39

Post #: 65302522
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Originally posted by Kit67: ↑

PS: to back that up: as at 30.09.2022 IVZ had 2.5 quarters of cash available (at the current burn rate). In essence, by 15.04.2023 they will need cash flow to sustain their operations - this will either come from sales or additional equity raising. So you need to weigh-up the ability to be operationally positive by mid April: not just confirmation of recoverable O&G, but the ability to bring it to the surface and get it to market (or under contract). Regardless of what they claim to have, the chances of this happening by April are pretty close to zero IMO.

Mukuyu-1 looks positive, but the failure of the mud motor on 202 and the need to plug and sidetrack worry me (about the geology which could lead to further flooding or instability). It is not a simple case of "whack a hole in the ground and pump it out". Note that the sidetrack is being done in order to complete their evaluation, and nothing yet is certain.

A market cap of $255 million, versus a current NTA of around $17mm (as at now, estimated) is far higher than I would attribute to SG 4571 on a risk-weighted basis - particularly at this stage, and with the current sounds we are hearing. Yes, maybe if all goes well that market cap is an underestimate (others here have made a guess at the fully recoverable valuation I am sure), but it just seems to be an overshoot at this stage in my opinion. Accordingly, I think the market may pull back a bit over the coming weeks if we hear any more news from Mukuyu that imply that IVX won't be pumping cashable stuff by mid April.

Just my opinion. Hope I am wrong. Happy also for anyone to throw rocks at me as it is just my gut feeling on this one.

Kit.

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Wow those are some big words.

Won't be pumping by April. Look at spend outside of drilling. Do better

IVZ Price at posting: 29.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 6.3¢		Change 0.001(1.61%)		Mkt cap ! $89.32M

Open	High	Low	Value	Volume
6.2¢	6.4¢	6.0¢	$308.9K	5.008M

Buyers (Bids)

No.	Vol.	Price($)
1	160000	6.2¢

Sellers (Offers)

Price($)	Vol.	No.
6.3¢	147648	2

View Market Depth

No.	Vol.	Price($)
1	160000	0.062
4	741332	0.060
3	900000	0.059
4	399842	0.058
2	25500	0.057

Price($)	Vol.	No.
0.063	147648	2
0.064	839531	4
0.065	693000	5
0.066	965000	3
0.067	956665	4

Last trade - 16.10pm 28/06/2024 (20 minute delay)

IVZ (ASX) Chart

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