Invictus Energy Progresses Cabora Bassa Project Across March 2020 Quarter

  • May 01, 2020 AEST
  • Team Kalkine

Independent oil and gas explorer, Invictus Energy Limited (ASX:IVZ) released an update of its activities for the quarter ending March 2020. During the period, significant progress was made at its 80% owned and operated Special Grant 4571 licence (Cabora Bassa Project).

From Zimbabwe government, IVZ Company bagged Priority Project Status. A tech committee was formed to carry out negotiations for a Production Sharing Agreement (PSA). Besides, final EIA submissions were received by Environmental Management Authority.

Moreover, meetings were conducted with the Chiefs representing Muzarabani and Mbire rural districts.

More recently, IVZ announced a placement with Mangwana Opportunities Fund to raise $0.44 million at a price of $0.035, representing a 91% premium to the preceding 5 day VWAP of $0.0183 and a 40% to premium to the last closing price of $0.025.

Cash and cash equivalents at end of quarter amounted to $1.54 million. The stock quoted $0.025 at 11:43 AM AEST on 1 May 2020. 

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK