Report confirms what we already know, the company has $30M in cash and debt of $20M = net cash of $10M (rounding the numbers)
The significant piece of information is that the Andy Well project has interest and that the company has been approached by more than one party. It looks like it will be sold maybe not at a premium but at a reasonable price. News of a sale could come soon.
The plan is to repay the debt this financial year either by using the proceeds from the sale or from production, either way DRM should have more than enough cash to aggressively pursue exploration.
- Forums
- ASX - By Stock
- DRM
- Ann: Preliminary Final Report
Ann: Preliminary Final Report, page-2
-
- There are more pages in this discussion • 72 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add DRM (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online