I find the timelines with IVZ very interesting. We have a situation where the PSA appears to be nearing finalisation and you would assume any potential farm in partners would need to see this locked in before making a binding agreement.We have the CEO incentivised to make this happen by the 30/06 in order to receive what effectively bonus shares to himself.
I have no issue with this and there is no real need to contact the company re the progress on PSA/Farmout as we all know the incentive to have this wrapped up is clearly there.On the other hand you would think they need to square away the funding for the actual drilling in the coming months regardless of the farm out, and the option is also their for IVZ to go it alone and make a capital raise from existing or sophisticated investors.
This may potentially be more beneficial to SH and management due to a greater working interest in the "potential" resource.I feel all of the above factors are weighing on the SP at present (both positively and negatively) and it will be very interesting to see how it all goes.
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