Some quick numbers that WASA and TUI as holders may or may not agree with.
Current cash end of Q $44 mill Expected development costs this q $4mill Admin (not sure ) $2mill ITC shares $5.4mill plus brokerage
Leaves you with say $33mill
You have a large ongoing CSG project that will need alot of capital.
You also have a large oil program to fund in Sept with circa $12-$14 mill to spend not including facility upgrades etc etc leaving you well under 20 mill.
To buy another 9.5% woul cost closer to $6 - 6.5 mill as the average sp paid would go up aas the register tightens and may even be more .
Net amount left would be 10mill. This does not take into acct CSG development beyond this Q.
Vic Pet haven;t got the cash and the 10% stake blocks nothing.
I wish I could share someting on VPE with you here but can;t and you won;t have long to wait.
ITC Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
