3d may well have an early slow down leading up to the christmas break.
when you look at the battling oiler minnows on the asx that still manage to do deals and get exposure to drilling,it is all the more disapointing that 3d never managed to leverage its cash and prospects into any action.
even cash poor minnows get action through permit releases,farm outs and dealing permits.
the rawson model of making the best of low cash, but engineering skills by applying for permits,progressing the permits to the limits of their resources,then dealing them on for a tiny stake in something that will actually be drilled is better than the 3d dinosaur slowly being eaten away by relinquishment and cash burn.
if 3d loves reprocessing old data and working on models in a room shut away from the chattering crowd--then do it.
3d will need to raise cash medium term.any dealer looking at farming into 3d prospects knows that 3d gets weaker in its position as time goes by.
without actually creating shareholder wealth by action,they will put themselves in a position of having to eat crow when they run out of cash.
TDO Price at posting:
15.0¢ Sentiment: None Disclosure: Held
