No you guys have it all wrong.
There is not 3.3 qtrs left of cash.
They are basically cashless.
the unused finance facility refer to the ATM with Acuity. how the facility works is that they instruct Acuity to sell shares into the market and they'll settle the transaction and draw funds from what Acuity sells. But the market is illiquid so they'll struggle to draw any significant funds from that facility. That was an extremely poor decision to even open the facility from the management team.
CPO is now back in the same position they keep finding themselves in. Microcap valuation. never funded to do anything. and always with a capraise overhang around every 6 months or so.
They'll be able to raise $1.2-$1.5mil if they are lucky. but that only buys about 5 holes worth of drilling LOL.
They need to exit TSO and recap CPO with a fresh $6mil. Otherwise, the market & investors will never take CPO seriously. Even the usual suspects are no longer playing the pump and dump game with CPO.
. There is a difference between the two. Maybe try reading properly before you quote my post.
