Setting things up, getting lease agreeemts, finance agreements, ticking boxes is now all taking longer. Doesn't matter what industry you are in. Finance companies now want everyhthing, so there is a due diligence process from them. If there is some form of negotiation of terms then that can take a whole lot longer.
No point drilling until production is hapening. The resource is there so they dont need to drill for the sake of it, then cap it, then come back to it later. Conserve the cash flow for production setup. There is a target they are seeking and if they kept spending money on drilling then they will run out of cash and then a capital raise would be needed. I think they are trying to avoid another raise.
I suspect they will want to have these agreements signed off before the AGM.
Its frustrating for everyone and their road show to the US wouldn't be just to look at the dirt and see what they have. These kind of trips are generally mixed in with other objectives and plans.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-17
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