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33.3¢ echo resources limited

What is EAR valued at?, page-5

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philh9

8,734 Posts.

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23/10/18

19:33

Post #: 36230621
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Originally posted by btown ↑

Project costs is 40 million and includes pre production. They are looking at financing options up to 45 million.

There cash will run out end of this year. They probably need 5 million of working capital to get through to next june - July.

They may not need a capital raising, but I would prefer for some good news over the next two months to get share price up around 20cents. 5 percent capital raising would be around 5 million @ 20 cents.

That would leave them with 45 million for the project with plenty of wriggle room.

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Small money if gold performs as expected and all available with many options, on gold, it looks strong tonight and I see VIX is up 15% already nice combo usually. Ear should not have been at 10c on any fundamentals I have seen, but there you go it was.

Cheers
Phil.

EAR Price at posting: 12.0¢ Sentiment: Buy Disclosure: Held
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