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7.8¢ tap oil limited

Ann: Supplementary Target's Statement, page-4

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risk41

758 Posts.

33

11/07/18

10:25

Post #: 34270014
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Originally posted by brianchu82 ↑

The independent valuation report has not delivered any particular surprises for the hardcore TAP investors. Clearly this company has cleaned up their balance sheet and for a couple of quarters it is generating free cash, so that is a good thing. They also have a better cash buffer now so that should add a few more cents to the stock price. Improvement in the production of Manora is also evident, albeit there is limited production life till around 2022-2023.

They will need to find another project that will convert to production. That may need them to latch onto another mid-tier or large producer since they have a small cash reserve to effect a meaningful exploration campaign to generate resources and convert to reserves and production.

All in all, I am glad that I held on quite a bit during these rather unpleasant 3 years.

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Well that lovely upgrade gives us production until Dec 2024 at a minimum, which should make you even happier.

TAP Price at posting: 8.6¢ Sentiment: None Disclosure: Held
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