See the latest report on Calima website, basically they value Calima at 19.0 cents as we stand $2,500 per acre (based on undeveloped lands nearology and with a discount). 30 cents if well tests favourably. If drilling equity funded this price target falls to 25 cents. Report does highlight debt or factor financing could be available for the drilling, don't assume more equity needs to be raised.
Unsurprisingly this all ties in with what Stein is saying, but good to have numbers around Calima which should encourage some new investors on board. So at 5.8 cents a price target towards 10 cents seems entirely plausible near term if the news keeps going the way it is out of the region and out of Calima.
See the latest report on Calima website, basically they value...
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