Yes, VEN is going to have to raise more money soon. The cash flow statement shows that they are going to have around $1.2 million by the end of next month. Vali is yet to be connected which will probably take $1 million per km of pipeline? If that's the case we are looking at around $7 million (roughly 7km to the nearest pipeline) for the connection or $3.5 million for VEN. Plus more money to be spent on production tubing and estimating the reserve numbers?
MEL Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
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