CR is code for desperately running out of cash. I have the opportunity to buy in. Why would I. Love your optimism Graza. If Institutions wanted in, and they were true believers surely 5.6 cents was ok. Why buy in CR. Insiders only taken up $700K ( 10 people $70k each peanuts). After renewing leases and covering other costs not a lot left for lowering debt. These funds are purely to buy some more time to secure a possible partner whilst securing expiring leases and paying nice salaries and admin costs. Over subscription is a result of the punting environment that exists at the moment not logic or fundamentals.
Diminishing oil flow and no new wells coming on is a worry. $10-$15 mill per new well going forward!!!! If they get it right of course. Sorry to be so logical Graz. Management have not sacrificed a thing since covid, still netting pre covid net income. Very big current share holder dilution taken place over the past week. I don't think I will get too many likes here but can't help expressing my feelings. A$ skipping away not helping albeit oil price looking good.
I hope I am wrong.
ATS Price at posting:
5.7¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)