re: Ann: US Fund Investment Allows Completion...
Amulet, i believe the VWAP conversation is only applicable in the scenario where they repay the loan by converting debt to equity (shares). Which wont happen. I guess its just a condition they needed to share.
From the BRR transcript: 'Importantly, this loan allows us to complete the 5 million Euro loan, and from that we intend to pay back the $500,000 short term loan, prior to the AGM.'
So the entire conversation about converting at .009, VWAP or the collar price of .005 is a moot pooint and can be disregarded.
The only consideration is the 75K loan fee to be paid in shares at a 20% discount to the average price of the companies shares for the five days prior to drawing down the 500k. Which should be tomorrow or Monday apparently.
On a differnt note, i had an email chat with Mick and Wal today. I wanted to know the benefits of using modern tech (rig) and 'know how' to drill POV-105 versus what the Russians used. I was also keen to understand if the 17mcfgpd discussed in the research report was supremely speculative or realistic. The answers to both were such that i remain very optimistic about the next year for AWD.
Just for fun, 17mcfgpd is worth about 40m pa to AWD: - gas price $11 USD per 1,000 cfg - AWD earn about $5 of those $11 - 17mcfgpd / 1,000 * $5 * 350 days = 30m USD pa to AWD. - what would a 5 year income of 30m from POV-105 do for the share price? Then add POV-2.
Thats at the high end of expectations but its not the long shot i thought originally. Even 5mcfgpd is worth 9m pa to AWD. Somewhere between those two extremes lies the truth it seems.
First things first though. All meaningless without the money.
AWD Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
