I am less concerned about this than others. I prefer the company...

I am less concerned about this than others. I prefer the company takes its time to properly plan its drilling campaign so as not to waste any of our excellent cash-backing. Scopes and budgets take time to put together and I am sure the extent of planned expenditure will be influenced by whether the sale goes through.

The main priority without question for management right now is to get the sale completed and I am ecstatic that they aren't taking any chances. The second priority for me is the extension of WD and associated approvals for Vertigo as that is what will keep the coffers filling up in the short to medium term.

A 2 or 3 month wait for the Hazel Creek drilling plans is not too much of a burden given what is going on at the moment in my view.

As an aside, tax rulings take around 3 months to obtain, so if they kick-off the process now, then we can expect to receive a binding class ruling by around August and the capital return should follow shortly thereafter (if approved by shareholders). The dividend or dividends will then come as the franking account balance builds.

It is good to see the $55.7m of tax losses officially mentioned ($16.7m cash value). If the deal is completed in July, then it is likely we won't pay any tax until the next instalment date which is probably around September.

We are going to be so cashed-up when this sale goes through it just isn't funny. The $220m of cash post-completion in July is a real figure as tax from the sale won't be payable until next financial year and we will have further tax losses from Hazel Creek expenditure to offset WD profits. Buying this stock below 62c is a very, very low risk trade. I have a bid in for another 100,000 shares at 58c at the moment which I placed yesterday on the off chance we saw a temporary dip from panic sellers, but I will up it over the next few days if it doesn't get hit.