PV1 2.86% 3.4¢ provaris energy ltd

That is a long annual report... Never ending conversion of notes...

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    That is a long annual report... Never ending conversion of notes as we know... Seems like 1470000 are the remaining borrowing which seems like fixed convertible notes... Conversion is minimum 1.8c means another 75m shares and 37.5m options can be issued (rough estimate).

    cash and cash equ = 900k
    other receivables = 1m
    total receivables = 1.94m

    Payments due = 650k
    borrowings = 1.47m ( convert able notes, I guess).

    it seems like they have sufficient cash to meet their obligations quite easily for the time being...hence a capital raise may be raised at a better price if needed... Drover 1 success can bring the much needed re rate.

    Allen dome and Holcomb progress reports are due from US assets and A progress report from Drover 1 would be appreciated.

    cheers
 
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