Oh Dear. VR-1 Carbonates have not 'come in' as wildly and widely predicted here.
This was one of the key risks identified by brokers 'the field being smaller than first thought'.
Anyway $80m apparently raised for a 21% dilution and 5.5billion shares on issue... will keep the 'wolf from the door' for 2017 (assuming continuous drilling as suggested by the Operator),,,, then 'do it all again next April? With FID not until mid 2019, any hope of the much spruiked 'Reserves based lending'. cannot happen until at least then..imo (and is not a desirable outcome in any event) imo.
No official word from the Operator must raise a few red flags?
That's 5 from 5 for me.
Happy Days.
DYOR
Oh Dear. VR-1 Carbonates have not 'come in' as wildly and widely...
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