I've watched CKK since it listed, after holding previously.
The current share price is tempting for an entry, but i'll hold off till i see the financials in more detail.
I assumed the previous raising would be enough to get the first rig into production (by June) at a cost of $3.3m. I questioned the price at the time, because the same rig was stated to cost $5m by terratherm.
I still haven't seen how much debt Globe drill are carrying as CKK paid a few debts and reduced leverage, so it's difficult to make an informed investment imo.
With more rigs to be built, it remains to be seen how they will finance them. Hopefully there are no more delays and the rig performs with no hiccups.
As for the CLRS, i've had major reservations since the Imdex withdrawal. Maybe Nanne should get a dictionary and look up the word imminent.
Good luck holders.
CKK Price at posting:
17.0¢ Sentiment: LT Buy Disclosure: Not Held
