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11.5¢ elixir energy limited

They are obligated to spend $2m usd a year under the PSA and a...

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barneydigs

6,291 Posts.

1960

25/02/21

09:48

Post #: 51309739
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Originally posted by koco: ↑

No need for a capital raise at all imho. We've just had nearly $8M worth of options converted (on top of the $2M cash already in the kitty) - the proposed works for 2021 will cost nowhere near that amount to complete. Worst case scenario these works might cost $2M or so to complete. Would still leave us with plenty of $$$ going into 2022. By the start of 2022 I expect the SP to be well north of $1 and for serious interest from the hydrocarbon giants to get in quickly before their competitors can. From there on in, I imagine there will be a scramble by management (thus spending all the remaining cash) to prove up as many basins/reserves as possible before this can be flogged off to the highest bidder for several dollars per share. The most important thing is to get those drills into the ground, the technical analyses etc. can all be done behind scenes at the lab and with minimal covid related interferences, etc. DYOR.

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They are obligated to spend $2m usd a year under the PSA and a few hundred thousand in PSA fees as well. with the planned program plus normal expenses I would imagine in the order of $4 million spend. but yeah, still plenty of cash and no CR coming.

Last edited by barneydigs: 25/02/21

EXR Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
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Last 11.5¢		Change -0.005(4.17%)		Mkt cap ! $130.4M

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