So, as I see it:
The Co has attracted $2m in capital recently for shares only - a far cry from Lanstead terms and a very substantial vote of confidence in the field and management.
Operating cash flow was negative $743k in the half and exploration costs approx $1m.
The Directors report refers to oil H1 2018 sales of c$100k per month.
Ditto a gas sales agreement is imminent only mentions )c .5m cft per day - say $50k per month.
This would bring them to near to break even operationally and ballpark $1m for development work. (ignoring the retail offer).
This is the best position AKK has been in since the POO implosion.
So if I invest now, I'm free carried on the downside by their operational cash flows and have plenty of upside on either monetisation of the gas or through oil sales.
If I don't invest now, i don't pick up much of the upside.
It's a buy.
Wazz
GLTA
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Open | High | Low | Value | Volume |
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Price($) | Vol. | No. |
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