The facts are that at the companies AGM it was stated that funds would be raised for phase 2 drilling. I do not know if this is the case with regard to this particular CR.
It must be noted though that even with 30 odd million in the bank, the bills still need to be paid even if JV partner/s postpone their share of the costs with tactics/means available to them. That is, CTP cannot second guess the motives of JV partners if they are serious about completing the work at hand and moving the company forward.
That said, it is debatable to what level of confidence CTP places in itself to be successful enough in the short term with the drill if they require the funds at this stage at apparently such a generous price.
It is also debatable as to whether the RCB's will be continued in the future.
We will surely know all this soon enough.
CTP Price at posting:
10.0¢ Sentiment: LT Buy Disclosure: Held
