anyone made any profit from key?, page-13

In terms of the costs for Cyrene #1 I thought a while back I read something on that but can't find it again.

Their last raising, 3 months ago, indicated that $3m would more than cover KEY's share of costs for Cyrene #1 and would also provide additional working capital for their expenses relating to their other exploration permits including the drilling of Waugh #1.

Then they announced over-subscriptions of nearly an extra $1m.

The raising announcements were ambiguous as to whether that raising included sufficient funds to cover KEY's full cost of Waugh #1.

Although with Cyrene #1 the costs were based upon them using Ensign #32 drill rig, DCA Rig #7 is meant to be cheaper in terms of operating costs as it is more suited to shallow drills. Ensign #32 can drill up to around 3,500m which is way deeper than we need as Cyrene #1 target depth is 1,060m.