SOI is around 47m after the loyalty offer, but yes, still negative EV as it stands, even accounting for this quarter's spend (given Q1 is effectively done).
Need to go back to the prospectus to see what, if any, emphasis was paid towards acquisition opportunities. Not sure how much excitement we'll be generating from our current tenements, if there hasn't been any interest at such a valuation.
Ann: Quarterly Cashflow Report, page-7
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