This is a massive de-risking event, it staves off any potential cap raise.
$4.5 million AUD to a miser like Noel (who's been running this company on the smell of an oily rag for 15 years) is ample funding to ensure there's no need to go cap in hand to market before Conoco drills in late 24/early 25.
It's unfortunate timing with WTI touching $65 this morning but make no mistake: 3DO is one of the safest junior exploration plays you will ever come across. With multiple farm-outs for the above and T/49P, Conoco is serious about this happening and I'll be absolutely stunned if the share price doesn't increase by 2.5-3 times in the run-up to drill.
TDO Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
