re: Ann: Notice of Annual General Meeting/Pro... Agree that it's not a good look that Camac are selling before drill reaches target.
I don't think Camac have to give the shares back on a no vote, just restricts future placement capacity I think.
They may want or need the money for a host of reasons. Could they know for certain what's down there?
The company should have paid 100% cash or had some selling restrictions on the shares/made them performance related imo, asked what Camac's intentions were.
Appears plenty of buyers to have a punt having soaked up most of a large overhang in October.
Buyback safety net, still near cash backing if wells are no good. I reckon into the twenties before news if volume doesn't tail off.
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Ann: Notice of Annual General Meeting/Proxy Form , page-7
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