The Origin sale seems such a long time ago.
Since then KAR have blew nearly $300m on practically nothing.
The original plan for Echidna was to drill a couple more appraisals.
Why did that plan change?
They had the rig booked but ended up cancelling.
Now they say they are going straight to production but first they need a partner it seems.
The 200m usd will be a long time coming.
Why are they trading at lower than cash value you ask?
I will leave that to the other posters to enlighten....
But yeah at todays SP you have a reasonable chance to profit one would think teddy.
KAR
Price at posting:
$1.18 Sentiment: None Disclosure: Not Held
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