You might be right Pete. A capital raise at this share price would be very dilutive.
Unless they can come up with some sort of government backed loan because of Covid or from NIAF their options are pretty limited.
They are trying to sell a stake in Moholo. Maybe they could also do a gas sales with an up-front payment. But they need to convince that asset buyer or that gas buyer that Santos and Origin are going to move ahead with Moholo - there's no evidence of that so far.
Whichever way you look at it though, they spend $2-3 million per year on staff, admin and corporate costs - $1 million of which goes to the board.
There was $3 million in the bank at the end of 2020...
You might be right Pete. A capital raise at this share price...
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17.5¢ |
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Mkt cap ! $193.8M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 6 | 668131 | 16.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 36666 | 1 |
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