The economic crisis has helped CXY in a small way....
By raising $4.2m at 6c from 70,000,000 shares, they have almost made up for the funds they would have got in the december options:
EXPIRATION OF CXYO LISTED OPTIONS Cougar Energy Limited (ASX Code: CXY) wishes to advise that 93,546,668 of the Company’s CXYO listed options with an exercise price of $0.05 (five cents) and an expiry date of 31 December 2008 were not exercised by that date and have therefore expired.
Effectively because of the delay... they have 14 million less shares on issue than if they would have raised the money at 5c.
Also like the presentation continuing to state that:
- 800m tonne resource considered realistic in Wandoan tenement.
The drilling program is complete so I guess now they just evaluate the date before the JORC is complete.
That figure is also larger than the 775mt resource that LNC has defined to date at Chinchilla.
And this on Kingaroy:
- Turbine selection and cost study complete - Power market and future pricing study complete - Preliminary Feasibility Study commenced
CXY Price at posting:
9.1¢ Sentiment: Buy Disclosure: Held
