Then what we dont have money to do anything until September 2015. We have to pay ERM back at the end of June 2015.
How do we fund each quarters cash burn.
Really simple you want money from ERM - The $4 million then we do the deal and its not a bad deal.
We dont do the deal , we may well end up like Nexus - with nothing.
I agree we dont need 100% but we have ERM who would rather be shareholders than JV partners and will lend us the money to take their stake. If we have dusters the debt will never be repaid so ERM carries most risk. If we find more then we have more of the asset.
Really sometimes wonder why we make things difficult. It is like friends at the bar. No money you have to ask friend to buy you a beer. He may want you to do something in return that you dont want to do but you do it if its not too hard.
Really simple
EGO Price at posting:
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