Ann: Trading Halt, page-26

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sharks37

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07/12/16

09:04

Post #: 21157046
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Originally posted by Autosime ↑

Ok jagman and Whisky
I will tell you why it's a CR, because AKK need the money in the bank to pay for the salaries. You don't achieve that through issuing shares to a third party in exchange for an asset

Secondly - if it was as you suggest or should I say as you hope , there would be no need for a two day halt, the halt it to let Hartleys tap their clients again for some more funds , they will have produced a report suggesting the acquisition is good and clients should part with the cash and buy shares

Now as SL and I have pointed out cash will be running out soon, ( around Jan ) and as it would be embarrassing to go back to shareholders and ask for cash without the flow test results of well 2 and 3 and without a drop of oil from them , it is much better to raise say 4m cash and buy something worth 2.5 m and nobody will be none the wiser. I have no doubt they will not mention a price paid for the asset, just a raising amount and that they are buying it , by implication most with think all the funds are going to the purchase of the asset.

Of course the Gas announcement released yesterday will slowly dissapear into the ether
By the way shouldn't we have a 30 IP rate now ????

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Auto, the ann for the Magellan #1 IP rate was on Nov 7th, so the 30 day IP is due today...

Cheers, Sharks.

AKK Price at posting: 0.7¢ Sentiment: None Disclosure: Not Held
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Ann: Trading Halt, page-26

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