Trinity have announced this morning that they have successfully raised gross proceeds of $20m (£15.2m), which allows them to accelerate their onshore drilling campaign as well as pay down the CLN and all outstanding debt liabilities, removing a key overhang from the investment case. Our updated RENAV is 32p (vs 35p) previously, but we see this as a key inflection point for the share price to rerate and as such reiterate our BUY.
25 Jun 2018
Successful raise
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Successful raise
Trinity Exploration & Production Plc (TRIN:LON) | 39.0 0 0.0% | Mkt Cap: 15.1m
- Published:
25 Jun 2018 -
Author:
Jessica Saadat -
Pages:
12
Trinity have announced this morning that they have successfully raised gross proceeds of $20m (£15.2m), which allows them to accelerate their onshore drilling campaign as well as pay down the CLN and all outstanding debt liabilities, removing a key overhang from the investment case. Our updated RENAV is 32p (vs 35p) previously, but we see this as a key inflection point for the share price to rerate and as such reiterate our BUY.