The new acquisition (if it ever happens) would want to be a cracker for a 0.2c capital raising to be a success. And we know its impossible to raise at 0.1c
So as you say we either keep accessing funds through CFE, which means they creep up to 20% and are then forced to make takeover offer.
Or the need to consolidate/restructure as AUZ did. Cant raise at 0.1c but do a 1:20 restructure of capital. Sp becomes 2c, then raise at 1.8c
But the likely outcome would be further erosion of our capital. I just dont know if any of our assets have enough "bang" to overcome the down trend and market sentiment towards management and past wrongs.
We just need a solid 30% WI in a highly prospective oil play with near term upside and no exposure to political or climate risks. Outlay $2-3mil. Then build off that.
Its a long road back from here, but doable. They just need to start small and work smart.
MHL Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
