This significant development gives AKK the ability to pursue project financing for large scale and long term field development for Pathfinder – the first time the Company has been able to source such funding lines which today are attractively priced due to historically low interest rates.
Austin’s Managing Director and Chief Executive Officer Timothy Hart commented: “This is a geat result for Austin and a significant milestone that will have a material impact on our growth and our ability to fund this growth much more cost effectively.” It is certainly exciting to receive a Net Present Value of US$16 million based on just 11% of our current acreage position, and we look forward to drilling in the four corners of our property to further de-risk the project and convert the contingent resources into bankable reserves.”
O.K. Guessed most of that, now, let's see HOW they convert that "ability to pursue project financing for a large scale and long term field development".
In the meantime, let's see how PO goes next Thursday
AKK Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
