What the $30m for is the big question...another poster stated it was for drilling and towards costs moving towards production....which would mean they need more than the $30m in the bank plus the $70 odd million of financing they arranged (sorry forgotton exact figure they secured from MBL).
Until we have the announcement out won't know for sure...I for one though was expecting a capital raising in view of money in the bank and financing secured from MBL...caught me by surprise....
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