ologist, there are lots more shares than there were, which means the asset we have gets distributed more ways -> less for each share. However, the critical issue is "do we get funding to develop operations"?
If we get funding the asset is still worth two or three dollars a share. If not, we might as well sell out.
Paul said to me at the meeting that he didn't intend using borrowing to fund the project, at least not in a large way. That seems a pity to me since the cash flow would seem to easily cover repayments - but maybe he has something better developing?
the commercial reality of tivan?, page-66
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