I was waiting to see this announcement prior to commenting. Yes of course I'm extremely disappointed that another CR was forthcoming prior to the drill, but TEG have in part caused this issue.
TEG's cash position was not in a good spot and the continual delays with the PGY and Cliff Head deal just brought it to bear. I know they wont, but the Govt red tape and delays in authorising this deal also have a part to play in this. Could have TEG raised enough money in the previous CR to cover this, but then would they have been called out for raising too much???
These CR's not only in TEG but in these penny dreadfuls or high risk stocks shows me that if I can somehow manage to get myself to a point where I qualify to become a SI, then rather than losing out on these opportunities, be involved and to turn it in my favour.
My ave buy in is 4 cents. Being in TEG since the Xanadu days and avoiding the lobsters or migrating turtles I think it was at the time, anyway, it has been a long road. IF the drill can someone hit good prospective targets, and get me a figure I have worked out I'll be out, but could it be enough to encourage M&A to start?
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