Ann: Surat Work Programme Operational Update, page-14

Hi Everyone, I'm new to this thread but have held in AJQ for about 5 years now, They just completed a cap raise for AUD$8 million at 2.6c with 2024 options at 5c ...... and now SP is 1c.

Thanks to RCee for tip
2021 Announcement "Armour will issue 290,000,000 ordinary sharesand 48,333,333 options to two unrelated special purpose vehicles to on sell and remit the proceedsof sale to Armour. Armour will be mandated to apply these proceeds to paying down the TribecaFacility Principal and Interest. A Shareholder Meeting will be held on 4 April 2022 to consider and, ifthought fit, to pass as the related resolutions approving the arrangements".

I guess this is a good time for issuing 290 million shares to Tribecca to wipe off the 5 million debt. When debtors decide to take equity there may be a good reason for this.

I hate dilution ... absolutely awful for ordinary shareholders. So the choice is to either cut losses and leave; or level down and buy when price is this low and hope for the best.

At a time when Russian gas and oil is being cut ... surely this is a good time for gas.
AJQ have reasonable production and a large exploration portfolio. So I will level down a bit, and watch how things play out.

Morningstar lists them at

Share price over life of company is not a pretty picture.