Just a quick comment on bank finance. It's simply not possible because IFE has no reserves. IFE knows this, so any talk of bank finance is complete BS and always has been.
A reserve statement is long overdue and should have been out before they commenced development.
I know negative comments are unwelcome, but this one has got a couple of big red flags (no reserves, and "DSO" product), and it's obvious that mgmt is being economical with the truth. We just saw the production delay buried in a press release. I expect that in the near future we will see capex blowout and higher opex forecast buried in another release.
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Just a quick comment on bank finance. It's simply not possible...
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