Ex, without doubt a much better deal for EXR than ETE.
200 mill shares at 1.5c will no doubt leave a bad taste in ETE shareholders mouths. Now they are up to find $15 mill to drill
Interesting turnaround since the November announcement,
Managing Director, Mr. Dougal Ferguson commented:
“The acquisition of the Alaskan Leases will be the first milestone met in a period of high activity for the Company. Detailed work has already commenced on an Alaskan exploration strategy and we hope to be able to shed more light on what that entails over the coming months."
Something has clearly forced a change of direction, while the ETE deal is a result, it is not fantastic, surely the EXR eyes were open going into the original deal. Maybe a realisation that is cheaper and easier to focus on Mongolia.
Cheers
EXR Price at posting:
4.0¢ Sentiment: None Disclosure: Not Held
