Disappointed. They have enough cash to last 6 months at current...

Disappointed.

They have enough cash to last 6 months at current burn rate.

The farm out interest must be real because why would they buy shares in May / June.

The only logical conclusion is that they are topping up on the cheap before the farm out.


From the recent Change of Directors Interest Notices BB owns 19.04% and PS owns 17.74%.

According to Annual Report 2016 top 20 own just over 70% of shares.


qtr report
"IPB has been approached by interested parites since quarter end requesting early access to its data room to review the results of the project. "

IDRIS PROSPECTIVE RESOURCES SIGNIFICANTLY INCREASED
"We have already received a healthy level of interest from industry in learning more about our recent work, which bodes well for the commencement of our revised farmout presentations due to commence next week.”"

Directors buying shares on market

WA-424-P RENEWAL ACCEPTED
"Recent enagement with potential farminees has proved encouraging, with a number of parties already agreeing to enter our online data room. The news of our permit renewal will provide further confidence to those and other interested parties reviewing out farmout package.”"

preso
"Farmout process underway – encouraging interest"