If you notice the annual full year accounts had quite a good presentation overview so they obviously were trying to sell idea of the company to someone
The ann last year october 28 (Notice of Annual General Meeting/Proxy Form) stated that resolution 7 which was accepted was to offer 200mil shares for raising capital
My guess at this point would be for caspian to rasie minimum 4mil cash for drilling activities in coming quarter
so im expecting shares will be released at 2c - 2.5c it would be a shot in the arm for the share price if the set price was actually 3cents (similar to what santos paid 2-3 years ago) and we know what happened after that.
Spetember 30 was the deadline for santos to make its intention clear on next phase of drilling which they havent! WHat this means i dont know maybe we will be advised when trading halt is lifted with next ann
Timing was a bit off with the ann as the share price was about to take off what a shame unless new investors have a quality brand name to boost registry it could be slow to move till drilling is about to start
CIG Price at posting:
2.4¢ Sentiment: LT Buy Disclosure: Held
