Answer to 1 is simple.
Management expected the sp to be 30 to 50c and raise enough to drill a couple of wells flow test 3d then look for partner.
That fell apart with the sp drop.
2. Is absolutely related to 1.
It takes more than 5 min for interested parties to do due diligence and given management had no intention of farming down or partnering for a couple of years so there was zero need for Ppsa.
Answer to 1 is simple.Management expected the sp to be 30 to 50c...
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