Looks like they’ve delayed a CR by dropping the proposed work plan for Lochinvar. Rather convenient timing to downgrade the targets though... they know they need to stretch the last of their cash given interest for potential JV partners seems non-existent.
With a little luck, the resource upgrade at Redmoor will create some movement and gain some upwards SP traction before they attempt a raise.
The market hasn’t bought into the Redmoor story thus far yet - let’s see if they can convince the market otherwise.
Ann: Quarterly Activities and Cashflow Report, page-3
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