re CashFlow - http://www.karoongas.com.au/news_pdf/September_Quarterly_Report__Appendix_5B.pdf (last few pages)
so prior to commencing the grace well we had $270M in the bank?
there own estimates said that the next quarter (Sep - Dec) outflows would be 92M. given its now end of Jan lets say its 120M
that leaves us with $150M right now...
thats not going very far when the plan was to drill Posiedon North + Kang2 + Kang West...
If we start drilling Pos North (40% of 100M ?) with no news on farm outs we can expect that Kang2 + Kang West will go on hold... and when cash runs out we do what? another cap raise...
they raised cap last time at a similar cash position to now.
I think Bob's hand has just been forced. How long can they keep raising cap and eroding shareholder value for?
if he doesn't get something over the line soon all his good work has been undone. Sometimes you just have to bend over and take one for the team.
Bob bend over...
Chappy?
re CashFlow -...
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