EGO EPW

Joe, I,ve been O/seas for a month with difficult comms, but I'd...

First 68 Last

Share
Profile

Follow
Japes

669 Posts.

13

01/11/14

02:04

Post #: 14220504
Share

Originally posted by joewolf ↑

Look at note 20 annual financial statements page 65 ERM Loan. It cannot be any clearer than that. If the deal is voted down the loan is to ERM as it is now. Really its okay to debate but surely you read the documents.

Its like we dont need to borrow funds : :

Question: Why does Empire need to raise this much money? Answer: As Empire’s June 2014 Quarterly report shows, revenue from condensate sales at Red Gully is barely enough to pay the ongoing bills, when the plant is running consistently. Empire receives no money from the delivery of gas to Alcoa under the current Tranche 1 sales agreement because Alcoa paid for this gas upfront in 2011 through to 2013. To help pay its bills in recent times, when the well and plant performance were below expectations, Empire has borrowed limited funds from ERM. The proceeds from the raising will enable Empire to repay that debt and will provide the Company with working capital while it advances its exploration strategy, including discussions with potential highquality farm-in partners and corporate investors. Empire also needs funds to meet the minimum expenditure commitments on its permits. Under WA law, the Company risks losing permits on which it fails to meet the minimum exploration expenditure requirements. Failure to meet these spending levels could significantly damage the Company’s asset base and its ability to create value for shareholders through future exploration. Extract from questions about the deal.

Read the documents out there ! Please lets not get the facts wrong because when we do we just get noise.

Really you seem to have a great respect for the previous board and that does concern me greatly. If you do then state that but you keep criticizing ERM and the new board whilst cloaking it with other issues. Yes the KMPG report is a valid argument but you will have to have that before considering your vote. The field estimates - Who knows. I just think we need to stop bagging ERM all the time.

Expand

Joe,
I,ve been O/seas for a month with difficult comms, but I'd be curious as to how much ERM make out of the 389J/V each quarter.
Anyone? An approximation?
Cheers, Japes

EPW Price at posting: $1.82 Sentiment: None Disclosure: Not Held

EGO Price at posting: 0.6¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

AXP

Tambourah chases gold veins and mineralisation extension with drilling

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

There are more pages in this discussion • 22 more messages in this thread...

First 68 Last

Add EGO (ASX) to my watchlist

Joe, I,ve been O/seas for a month with difficult comms, but I'd...

Top Stories

Tambourah chases gold veins and mineralisation extension with drilling

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Featured News