I can't see them raising to be honest. $5.7m (7.9m aud) outlay for Biv Peak and SM74. Leaves around a 5 million buffer + the interest in Byron which could be liquidated. Only need for additional capital might be if there is a success case at one of those two wells, or if they take on another project. In a practical sense, if both wells are dusters then the strategy goes out the window to a degree, but then it would simply be a case of liquidating some or all of the Byron investment in order to keep things rolling. They're still talking of acquisitions/mergers in the financial report - so will be interesting to see how things play out.
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Mkt cap ! $3.674M | |||
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