TSXV:ART.H - Post by User
Comment by
justin_a_lyesseon Apr 09, 2010 2:35pm
405 Views
Post# 16975588
RE: A few more interesting facts ...
RE: A few more interesting facts ...Let's try that again!
From the report:
F2011 outlook. Our F2011 outlook is based on net capital spending of $17.3 million, which assumes one exploration well will be drilled at a cost of US$30 million-US$35 million (US$13.9 million- US$16.2 million net) and potential additional seismic. We forecast minimal cash flow being generated from its Canadian operations, and as such we forecast Vast’s year-end cash deficit at $2.5 million. We place a high probability Vast will look to raise additional equity in calendar 2010 if warrants are not fully exercised in June.
F2012 outlook. Our net capital spending forecast of $18.7 million in F2012 incorporates drilling one additional exploration well at Qara Dagh and potential for a further 2D/3D seismic acquisition program. Our base outlook does not include any potential spending associated with development activities or facilities construction, but could change pending a successful discovery this year. In our view, first production is unlikely to occur prior to F2013.
So it looks like they will have to raise another 36 million or so in the next year. Even at today's SP, that's only about 40 million shares. If the SP is $1.50, then we are talking only about 25 million shares.
So much for G40's bold prediction of a 200 million share dilution!