KEY 0.00% 0.1¢ key petroleum limited

bye bye tanzania, page-12

  1. 18,895 Posts.
    lightbulb Created with Sketch. 163
    I think it would have been better for us if Aminex had bought the whole company for 5c per share, and I was hoping for that. It aint going to happen now. Probably because Aminex didn't want to take that UK money-hole onto it's books.

    I reckon a 90% certainty the board will ditch most of WSS because they cannot meet upcoming drill funding costs. If they don't sell it we will lose the licence anyway because all the cash has been spent elsewhere.

    They will probably use the funds from that to top up the funds from the last 3 raisings to finally drill the UK and then KEY can stay afloat (if production increases) and remain as a $6m capped company for a year or so probably just eeking out enough cash to fund admin/salary and consultant fees.

    Then MAYBE in a year or so, when things have stabilized at these levels, they might have another go at a big project again, but there is always the risk they might issue themselves fresh incentive options and gut the register of all us no-hopers first.
 
watchlist Created with Sketch. Add KEY (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.