Still a real chance in my opinion. They did mention the possibility in an announcement a few months ago. EIA approval can be issued any moment, after which ADX will release the details of what’s going on with the funding for Welchau-1.
In my opinion ADX should give someone like MND a lucrative offer i.e.
- 20% share in the project for 50% drilling cost of Welchau-1.
- An option to acquire 20% more in case there is a discovery to develop the whole Welchau gas field (can cost around 300 million euros, including 6-10 appraisal wells).
That still leaves ADX with 40% which can easily multiply our current market cap of 45 mill x 10 and potentially even more. However, we all have to consider the possibility of a dry hole but then again we have Anshof and other Austrian producing assets. Good luck friends!
Still a real chance in my opinion. They did mention the...
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Last
10.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $59.71M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 9.9¢ | $110.9K | 1.087M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 39990 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 170200 | 3 |
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| Last trade - 14.59pm 30/08/2024 (20 minute delay) ? |
| ADX (ASX) Chart |