A little PR will be needed quickly as they only have 6 months to get the SP above 10c to get the unlisted options live and collect the $4m. If they allow them to lapse then another fund raising will be necessary and the company may find it a little more difficult to find willing supporters as the last 2 fund raising hasn't done much to the SP. All these delays are not helpful, but we cannot do anything about, them so get another well or 2 on the go as forecast earlier, even if it means a small loan is required but do something. Drill 2 wells now on borrowed money share price rises above 10c. options live 4m. in the kitty repay loan and by then income neally covers future development.
TEX Price at posting:
5.6¢ Sentiment: LT Buy Disclosure: Held