They need the good news to motivate people to subscribe, on top of the steep discount.
Its just the reality of trying to raise 1/3 of your market cap in the oil sector at the moment.
Its survival mode stuff. Better than going bankrupt. And it we survive, which we should, we will be well positioned to expand afterwards, given all the abandoned wells and our growing knowledge about the geology of the area.
Ann: Whitebark Entitlement Offer Presentation, page-8
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