Yep, agreed completely... But i just was implying the $10M doesn't mean to the share price much when you have $220M worth in reserves...
CTP's farm out agreements are amazing, i'm not sure if everyone's realized the value of PXA's agreement... They're willing to pay 40% in every tenement for all pre-drill seismic and 3 wells to only earn 20%... If you put this into figures each seismic is approximately $3M and each drill is about of the same order and they have about 18-20 tenements... This equates to more than $200M planned expenditure for only a 20% stake!
It seems CTP aims to farm out each of their tenements even further so they minimise their costs from 60% to more like 20% or even free carried as is with the case of EPA130... They've done similarly with Mt Kitty and Magee where they are only paying 10% of the costs as He Nuclear have farmed in 25% by paying 50% for drill and seismic.
I wouldn't be surprised to see more farm-ins coming up...
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Yep, agreed completely... But i just was implying the $10M...
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Mkt cap ! $39.22M |
Open | High | Low | Value | Volume |
5.0¢ | 5.3¢ | 5.0¢ | $43.63K | 835.1K |
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No. | Vol. | Price($) |
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1 | 135829 | 5.3¢ |
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5.4¢ | 117423 | 2 |
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1 | 135829 | 0.053 |
1 | 529054 | 0.052 |
1 | 428500 | 0.051 |
2 | 365000 | 0.049 |
1 | 373188 | 0.048 |
Price($) | Vol. | No. |
---|---|---|
0.054 | 117423 | 2 |
0.055 | 275000 | 1 |
0.058 | 200000 | 1 |
0.059 | 519508 | 2 |
0.060 | 112209 | 2 |
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