At current prices this company has plenty of upside as a long term investment in my opinon. Having said that things could change rather rapidly and we could easily see drilling commence in Tasmanian or further advancement in Vanuatu.
With almost $1.9M cash at bank + approx another $450K from a Fed Gov't grant seems a cap raising is at least a little way off?
What I also like is the fact that there a mere 64M shares on issue and that the current market cap is approx 1/4 of what it was when the company listed in 2007.
Very sound and experienced management each of whom have a substantial position in the company makes for a ripper of an investment for the future in my opinion.
WC8
KEN Price at posting:
5.5¢ Sentiment: LT Buy Disclosure: Held
