It's also risky to wait for the company as a failed drill will make a farmout so very cheap and the drill has a 14 CoS !! IT'S GOOD TO LOOK A BOTH SIDES AND NOT BE BLINKERED
Or it's simply clued up investors reading the amount tied up in bank garantees + cash needed to drill + cash needed to buy new area = placement !!
Well that almost confirms my thought here for a while - a placement is on the way to pay for drilling and a new area - we have possibly $18m in the bank but have £7m tied up in guarantees which is hardly enough to concider a new venture never mind a drill..This may well be the reason why ii's have been holding off taking a stance on Chariot - it would make sense they are usually well informed !!
A better question would be - how much actual cash do we have taking away the money tied up in bank guarntees ?
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