re: Ann: Recommended cash offer for takeover ... Considering the estimated cash outflows for next quarter, it seems that EOC have closed up shop and aren't bothering with further exploration.
EOC is probably the perfect example of a promising company with a highly skilled technical team, which lacks the financial or corporate expertise to be run efficiently.
I own an oil and gas company (comparable to mining I suppose) whose CEO is a Financial (as opposed to a more technical guru, i.e. engineer/geologist) and I couldn't be happier with the direction they are being led in. You can really tell alot of work goes into the financial aspect, which ties directly back into the geological component.
Unfortunately EOC focused too much on the technical side of things, and not enough on the financial side. Coal prices made this difficult in recent times, mind you.
The biggest hurdle for any up and coming 'speccie' is funding, and EOC's cash burn has eventually come to bite them on the rear.
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