IVZ media thread, page-7410

I agree with your sentiment but really even if they got the full amount (with overs) in January, they were stumbling over timelines to get the well design done to do the well test. They probably would have had to raise again in the lead up to the drill (very common for IVZ) sometime in Q2 and would have burned a lot of the rig hire money anyway. Assuming they got a good flow test they’d be back to square 1, no PPSA and no funding.

It’s dammed if you do and dammed if you don’t.

The problem started years ago when SM went into the drilling campaign with very little idea about capital markets and preservation of capital. Combine that with an overly complicated drill strategy at M2 and they are exactly where they led themselves. It’s not retails fault Scotty, it’s managements fault.