10m US$ = 15m A$; very much the value of the short fall from the Entitlement Offer from January and combined with the A$15m from the private placement from Dec 27 it will cover M2 well test and preparation for 3D seismic campaign.
A farmout and creating a JV will be the next major funding step...
The listing at the local exchange and the involvement of more local investors is a master piece by SM...
This is great news by any means...
Ann: Strategic Investment & Production Sharing Agreement Update, page-54
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