I understand EPR needs to farm out Fermat since they cannot foot the bill (which does not include any cost overruns or delays) with their current cash position. A duster would see them need (or try….) to raise capital at a significant discount to 3c. A situation management should not have put the company in.
At this late stage BPT (or another party) either don’t want the extra interest from EPR or cannot agree to terms with EPR. If fermat is a success then BPT will not be able acquire this interest as EPR could raise the equity. If not then BPT will not want it. Unless there is already some agreement.....but dont see how this is possible.....
If fermat is a duster a major shareholder may want to bail the company out but this certainly raises interesting questions about the current farm out plan.
Something smells…i dont know what their doing but a fall restraint maybe required.
Brave people putting a buy on this.
EPR Price at posting:
3.1¢ Sentiment: None Disclosure: Not Held
