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From what I believe is that Tatanga could our investment partner...

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Brentb

1,453 Posts.

798

24/12/23

13:34

Post #: 71610044
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Originally posted by Rustybullet1: ↑

This $25 million CR (SI portion oversubscribed as some say) will provide funds for 3D and flow testing.
I will be participating 100% for as much as possible.
The fact that SM has managed for existing SH get a larger piece of the pie in this CR shows he has respect for his shareholders…. It’s otherwise easier to simply raise it all from Soph’s/PAC.
With the 10/15M split - we can blame retail for 60% of the SP manipulation over the next months.

IMO - There likely will be another subsequent CR for the next drill Mukuyu-3.
I cant see the company having enough of the data processed/ready in time for the thirst of a drill announcement.
3D data on the basin wont be processed in time to be able to declare 2C resource.
We might be lucky enough to have MK2 sidewall cores analysis back in time for Q2 ?

We are very much resting on flow rates being the catalyst for the company to progress.
Commercial flow rates could trigger investment/credit from offtake partners… all this (paper)work will have to be put in place now / over the next few months for the cashflow to be seamless and not a need for another CR post flow MK2ST/LA….otherwise we will be sitting in “the doldrums” for several months - we will likely still have a good chunk of money in the bank (maybe 8-10M) but wont be able to do anything meaningful with it… cant commit to a drill without the necessary funding….
(Is there a chance we oversubscribe - take more $$ now and drill the shallower/slightly cheaper basin margin play? )

EarlyQ4 of 2024 will be the ultimate milestone test to see where/how this company is progressing….. would be nice if we were drilling using finance other than our own.

In the interim - I see this company value as a very safe bet at -$200M market cap for 80% of an elephant GAS field so will continue to invest.
And for those who want to see a sample jar full of condensate ….here’s a tip - its NOT BLACK and DOESN’T look much like OIL.

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From what I believe is that Tatanga could our investment partner with us having a line of credit.
I think that the partnership will be signed off after flow testing??

IVZ Price at posting: 15.5¢ Sentiment: Buy Disclosure: Held
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From what I believe is that Tatanga could our investment partner...

BCI reaches close of funding facility for salt-first part of Mardie project

Buxton projects new graphite province discovery at WA Narryer play

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

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Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

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From what I believe is that Tatanga could our investment partner...

Top Stories

BCI reaches close of funding facility for salt-first part of Mardie project

Buxton projects new graphite province discovery at WA Narryer play

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

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