Tamboran Resources raised less than half the money it was seeking with its initial public offering on the New York Stock Exchange, while an energy think tank said its analysis has raised questions about the financial viability and competitiveness of the Beetaloo gas development, which is being touted by the Lawler Government as crucial to the proposed Middle Arm industrial area and the Territory’s future economy.
Tamboran’s shares opened 6.3 per cent below its initial IPO price last week, after the company reduced its IPO by less than half to raise $113,060,475 – lower than the targeted $235,459,372 million in earnings.
Tamboran was reported as a Territory Labor donor. Tamboran is not the only explorer and Empire has a fully funded business plan that will put gas in pipe lines next year. Which begs the question. Why did Lawler sign up with Tamboran.
New York stock investors are smart. They heard that NT Labor had awarded it’s dreaded ‘Major Project’ status. What will NT Labor do now, put in more tax payers money.
Just another half baked plan from this government. When will they get anything right? The poor old taxpayer is once again paying out and those in power plainly don’t care.