Cheers EL & SL,
I would prefer to be forward looking - management have slimmed down the company over the last few months, and have shifted their focus to their current & impending producers - just like a junior oiler should.
I think that the institutions will look on the raising positively, as it removes the future doubts about funding, and assures the development of BMG - ie future profits. Combine this with the current cashflow generation and I think they will buy up.
Current cashflow from 10000 bbl/day @$50/bbl - is covering their ongoing exploration and development also - meaning right now at $70/bbl, $200k/day, $6million/month, $72million a year free cashflow generation to put towards BMG also. (rough figures)
I reckon 75 cents will be around the mark for the cap raising.
Ann: ROC Announces Equity Capital Raising , page-11
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Mkt cap ! $10.01M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 17464 | 7.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 10.0¢ | 138250 | 2 |
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