Yes, I suspect a JV will eventually be in the cards. Could come soon now that they've shown consistently increasing production & given the financial situation.
Perhaps another option could be a reserve based loan?
Green Dragon Gas CEO mentions it in a recent PR (largest player in same industry)
"We note that CBM companies producing less gas and with lesser audited reserves in China have reserve-based loans in place, which could also be a viable option for us," Green Dragon's founder and chief executive Randeep Grewal, who owns 65 percent of the company, said in a statement.
It will be interesting to see how it all plays out. A few more production updates and this will be getting more eyes. Money flow is starting to return to OTC names & also Chinese micro caps so I like it here.
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