also, their $1mil of STX shares are now worth 40% of...

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Hardcash

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27/02/24

13:02

Post #: 72619131
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Originally posted by invertedva: ↑

The problem with partners, especially at this early stage, is that you'd have to give a chunk of the asset away for not much return (e.g. 50% for $20 million). Otherwise, the partner would be better off taking over the company altogether.
I'd prefer to prove up the resource with some actual flow rates. Hopefully, at that stage, we're trading closer to a $100 million market cap. Then bring in a major, like Sinopec, for a 50:50 joint venture for, say, $100 million of drilling expenditure to prove up the rest of the field.
I would support a Right Issue or SPP if given the opportunity, especially if a few more options are thrown in.
I reckon we will see something in the next couple of weeks.

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also, their $1mil of STX shares are now worth 40% of that....

With only 0.85% of one financial quarter of funding left in the bank, they have no alternative but to raise. "If" they sold their STX at 50c they have some more time but not much....."IF"

Maybe STX should buy the project? I heard on the grapevine that they have a cash pile with nothing but sheep paddocks to explore...LOL!!

Last edited by Hardcash: 27/02/24

TMK Price at posting: 0.4¢ Sentiment: Hold Disclosure: Not Held
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