re: agip funding - for trender2 Scarabeo7
Not sure whether the loan is a short term bridge financial facility. I had a look at the quarterly, it just says loan financing. If the loan is short term, I think Hardman should (and would) have disclosed that to the market because bridge financing is about as good as not having the money at all in Hardman's case.
Any agip equity sale and further raisings of capital should be done in moderation. The issues are pricing and time. Right now, Hardman may be perceived as a forced seller so it may not get the price it should expect. i.e. at least $A5 per barrel. I still think a broad based equity raising is the proper way to do it, but a little sale of the agip stake will help balance the books. But Hardman only needs to raise as much cash as is needed for the next year or so. In the not so distant future, the company would be awash in cash once Ching starts flowing...
Be patient, be patient, be patient
good luck to all
Trender
HDR
hardman resources limited
