Ann: Quarterly Activities Report & Appendix 5B, page-21

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spinefx

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25/01/19

20:59

Post #: 37229781
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Originally posted by docmin24 ↑

Wow interesting comments. It’s a 1/4ly. I for one love them. Some have missed the point in my opinion. Plus we are drilling next month and know all the potential prospects stuff to death.

As I said last year a Farmin probably won’t happen until results of Winx. That’s what I would do if it was my money. Plus OSH investing but interestingly not with 88. Oh the joy of it. Suspense!!!! Because this farmin is essential in my opinion.

This report speaks volumes for my investment strategy. Cash in bank is critical, especially if no farmin agrees and Winx fails. Just saying it can happen. Some here talk nothing but success. I prefer to prepare for the worst case. Well we have had 2 failures and that has had a huge impact on market sentiment in 88. Hence why SP at 2c in my opinion.

It is critical that the company has success going forward as another failure will have huge impact on 88’s future in my opinion. Just look at the important company balance sheet.

We owe $16.5 mil USD, which is $23.3mil AUD

We have $21.7 mil in bank AUD

Will cost $10 mil AUD this 1/4

We only have at best $11 mil left and wages/admin alone costs over a mil a 1/4. ($4.3 mil a year). Not a lot to do much is it.

It’s a big concern going forward if no farmin announced. Because again further dilution and cap raises at low prices again. Ground hog day. That’s the situation if another failure.

If no failure, cheers, beers with plenty of back slapping happens and a Farmin announced then we can comfortable go into 2020.

So in my opinion this 1/4ly speaks louder to me and has strengthened my planning of my investment decision during this drill. So totally disagree with some it was a waste of time. Unless you are just a emotive punter on the market and invest under the sheep mentality, probably can’t understand a drilling report either, or what the company is drilling for lol. Then I guess you would find it a waste of time. GLTA.

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Doc,

Don't forget the bank loan is covered off by the Tax Credits, with a net amount back to 88e.

Although the Bond Scheme for the Tax Credits has met with some constitutional Court action by Mr Forrer that appears to be getting worn down, so we may see some movement on payment.

What is obvious from the quarterly is that Dave runs a tight ship financially and enjoys the luxury of having a health bank balance. Unlike many spec companies who can only dream of having such financial flexibility.

Cheers and happy Friday all.

88E Price at posting: 1.9¢ Sentiment: Buy Disclosure: Held
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Ann: Quarterly Activities Report & Appendix 5B, page-21

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