1. Way out of the money 2. Potential dilutionary effects of Funding ( convertible notes etc ) 3. CR near term to complete 10 well program, should there be not funding
8 c means say 160 mil Market cap on current issue
Any dilution makes they every bit harder
The upside of course is if you were to make the play, and they funded development through straight debt that wasnt convertible notes, you might find the oppies trade nicely as the SP moves beyond say 3.5 c or higher
Balls of steel neede of course
GGP Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held