Cash is extremely difficult to raise for anything at the moment, let alone leaving it parked in someone else's bank account, so it will be working straight away.
Expect stocks and stories to fold in the coming months due purely to lack of ability to raise capital, the current situation is clearly serious. If you have holdings in current stocks requiring imminent capital.............be concerned.
The cap raising by African Oil would have had similar parameters, so before any investor put their money into the exploration they would require as much information about the story as possible.
Its insufficient to merely say hydrocarbons were flowing from Darin 1 during the past exploration, it suggests that sufficient seismic information has been obtained to assess the structure potential to convince the investor to inject cash.
Trading currently looks like a zero sum game, no real buyers and no real sellers
Another Groundhog Day!
RRS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
