Using OEL's estimates from the Sept QR, they would be down to USD5.69m cash by end of this quarter.
Thats getting fairly tight when you cant guarantee that SM71 will be completed within budget and produce as expected, or the Timbalier exploration well wont encounter any cost blowouts.
They're following the BYE playbook, with the c/note issue followed by a CR.
However, BYE raised at recent historical lows whereas OEL's taken advantage of a recent spike in the sp.
If you look at it objectively, the CR isn't that surprising.
Using OEL's estimates from the Sept QR, they would be down to...
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Last
1.3¢ |
Change
0.001(4.17%) |
Mkt cap ! $59.93M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.3¢ | 1.2¢ | $5.604K | 466.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 9887653 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 14325513 | 20 |
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| Last trade - 15.46pm 28/08/2024 (20 minute delay) ? |
| OEL (ASX) Chart |