The SPP was a major tactical error (stating the obvious). This...

The SPP was a major tactical error (stating the obvious). This BRR was damage control for the announcement release next week on a massive shortfall uptake on the SPP. Generally this would put massive downward pressure on the SP and for that, I appreciate that they didn't stay quiet.

The fact still remains that they still need cash. We already knew they had enough cash to drill Bongo and analyse FP1. They still need cash for general operations and for the further development of FP & Bongo (the reason for the SPP). The investor presentation provides a hint onto how they will get this cash. So I am still preparing for a capital raising soon. They won't be going back to the shareholders due to this SPP failure so I am also expecting the inevitable complaints with the next round of dilution. I for one will not be complaining if they raise at the correct time. That is, when either Bongo or FP have provided enough to accelerate the share price to at least twice where it currently is today.

I think the SP will remain at this level until all is known on the SPP, then I expect it to normalise to its prior levels. Then Bongo & FP1 should get us to the next level as appropriate. With the release of today's BRR 2c may very well be the bottom but I am still concerned about the timing on the need to raise cash to remain operating. All IMO & DYOR etc....