Nobody ever doubted the PPSA would get signed and is not the concern at all is more the length of time as not many small junior explorers could not withstand burning near 20 million of shareholder money not exploring if they don't do anything till next year with an idle rig. That's where IVZ has probably had to hire a CFO as there really has been no accountability to where all this cash is being burned with decisions that have been made (like keeping the rig on site for 2 years) especially considering they still have no flow test result at all.
This suggests the corporate decision to keep the rig on site last December was flawed if the PPSA was so vital to get any further funding or work done it probably should have been demobilised once the Right's issue failed.
I did some digging and found the liability cost in the ZIm prospectus it would have cost them 3 million USD to send the rig back to Tanzania
IVZ Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
