It's hard to say RAW. I have gone through the end of year report and quarterly's and have found that they are not making a profit. The money in the bank is being chewed up for expenses - this may prove to be a good thing by gathering assests and projects/prospects. But if I was a new investor, this would be a slight deterrent.
Apart from that, you listed some good positives - they still have the funds due to them from Catapult, so we should see this reflected in the December quarterly (if paid up of course) and today's announcement of an increase at East Chalkley should help stabilize funds at the bank.
Once Snapper A3 (expected 331k BO + 4 BCFG), Beyt #1A (expected 750k BO) and Highway 71 (1.1m BO + 67 BCFG) prospects are being drilled and have flow rates for all - these 3 will be what gives TEX a profit as operating costs are already covered by their other drills - I can see a SP range between 20c - maybe 40c. This is all dependant on how they go with the upcoming prospects.
Highway 71 alone, if successful, will increase TEX's net reserves by over 330% - that to me is fantastic in anyone's books.
Good luck to all holders - and always DYOR.
TEX Price at posting:
5.7¢ Sentiment: LT Buy Disclosure: Held
