RE: RE: RE: Cash position As i understand it (bit of info here, bit of info there) there were interested parties, but no official bids, i believe any potential offer was derisory in nature. Seems fair to me, no point trying to sell an asset for fair value, when you don't have much cash, as you are in a position of weakness. Sharks can smell even a spot of blood from miles away. Seems obvious to me, you try to sell an asset when you are cash rich and not desperate in the poor house.
That said, it has been no excuse for not progressing this project. So as to financing, we will have to see. I agree 100% that a big equity raise at 8c will be a lot of dilution. But i believe they are looking at debt financing mostly, with an equity element. It may be possible to raise say $5m working capital to comply with a loan (62m new shares at 8c say). The loan would give us the funds for drilling and completion of TSB-3. If we have success drilling and a DST or EWT we would be at a much higher mkt cap than now, better able to raise equity for production infrastructure at much lower dilution etc...All ifs and buts.
Even if it turns out worse than this and we end up increasing the count a lot, we could still see a decent return from now. Say we can become a producer longer term (aka MMT $760m mkt cap) and achieve say a $350m mkt cap.
Current count 158m $2.22
at 200m $1.75
at 300m $1.17
at 400m $0.88
at 500m $0.70
We could see a 10 bagger with 1/2 billion extra shares, if we got to production. I'm hoping it won't come to that dilution wise and hope not to have to wait so long.
All ifs and buts. Need some TSB3 money first, then drill it successfully.