yeah looking at that low balance i searched for Tony's payout too. Tony's payout (about $300k ?) is tomorrow so not in the March quarter. Sure doesn't leave much.
Like Tooheys8 i thought the 300k on exploration/evaluation a tad high. Is environmental restoration part of that?
We sure are cash poor.
I wonder if we're planning a deal to resign from the Curara Well joint venture with Richmond in return for 100% of Red Bore? Sandfire might still pay up the earlier offer of $1.5m for Red Bore. That's probably drawing a long bow. It is frustrating having Red Bore encumbered by Richmond. Richmond seems to have gone into care and maintenance mode on Red Bore keeping his blocking stake of 10%.
Another straw to cling to is the mention of Andy Well. Why mention Andy Well in the same breath as evaluating opportunities? Is our consortium bid still on the table? OAU might contribute our ground if someone with deep pockets can fund exploration, mining and re-opening of Andy Well.
A CR has been looming for six months...but OAU are clearly doing everything they can to find another way.
OAU Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
