Unfortunately I don't share the same optimism. According to the...

Unfortunately I don't share the same optimism. According to the notice of annual general meeting , resolution 4- the company has legislated to sell the olmos acreage for not less than $5m US.


Low case scenario - olmos A$6m , plus Coolangatta A$200k , plus cash $200k =$6.4m.
242,333,716 shares on issue = 2.64c per share.

High case scenario - olmos A$10m, plus Coolangatta A$500k, plus $200k cash =A $10.7m.
242,333,716 shares on issue = 4.41c per share.

Bear in mind that we have had 2 cap raisings for approx 150m shares at 1.1 and 1.2c respectively.

Many people would do very well at anywhere between the low and high case metrics.

We have very little cash, very little ability to drill any more olmos wells.

If you could buy today at 1.5c and possibly by years end be looking to get 2.64c - 4.41c for your stock, I would think that to be an excellent return for just over 7 months work.

best of luck to all.