up&go, it should be obvious that in a small-cap, that is...

up&go,

it should be obvious that in a small-cap, that is "thinly" traded, that moves of +/- 10% are to be expected ..........

if the large shareholders really wanted to get out - the thing would be 0.5c ................................

ask yourself - what are the PV10 assets worth, and then what can be borrowed against this (along with break of hedges / new hedges entered into).......PLUS how much to get rid of the preff's .......

basically - not enough "asset" to cover both of the above .........hence mr market is suggesting some sort of capital requirements ..........

they have been doing this "refi" for approx. 7 months now ..........and still it hasn't been completed ........

I found it "interesting" that they had to get the approval of the preff share owners ......

rgds
V_H