Calima Energy's Investor-Focused Moves: Blackspur Sale Success
Matterofspace029 Feb, 2024Business
After the complete allocation, Calima Energy will hold 5-6 million in cash and operate the Paradise Field in British Columbia, which generates an annual cash flow of AUD 350,000. On reviewing the success of the Blackspur trade, Chairman Mr. Glenn Whiddon stated that the 80% premium to its market capitalization before announcing the deal reflects the quality of the Blackspur assets, which ASX investors needed to recognize. Calima Energy plans to review new project opportunities; however, the securities may be by the ASX after 2 July 2024 until a suitable project is acquired.
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