RAVI and all
Richard Cottee's statement that there are "No rigs in Australia available at present" is correct. Another share I hold NSE has the same problem and was having to wait until the end of the year or early next year for one, causing the sp to fall day after day due to this situation, as they are extremely scarce in Australia because every company wants them.
Because of this situation, they (NSE) have finally decided to approach new unknown companies who are bringing drilling equipment into Australia, to evaluate the possibility of hireing rigs from them, but approaching it extremely cautiously with thorough evaluation of the companies before they dare make any decision if or not they will hire them, due to the unknown quality/ability of these companies, which if not experienced enough or careful in their approach, COULD have the potential for the drilling to be a failure and a huge loss financially to NSE, so what Richard Cottee was saying was completely true.
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- interesting alternative scenario to report
interesting alternative scenario to report, page-9
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