Does MM like Strike Energy (STX)?
Any thoughts on strike energy ? Seem to be lots of good releases to market- a well connected board. About to start producing….
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Answer
Hi Justin,
This $565mn WA based petroleum exploration company has been in a trading halt since early August – the company announced on Thursday that it has secured a $6mn agricultural finance facility from Rabobank to acquire Precinct – the debt is to be secured against property and the balance of acquisition.
However the company will remain in the trading halt until we hear details of an accompanying capital raise and importantly what the funds will be used for after completion hence at this stage its hard to offer an informed opinion.
Technically the stock looks interesting into any weakness into the low 20c region.
