Hi Davi, I am as surprised as you that they look to be able to fund such a large amount with a market cap of a less than $70m, I think there are a lot of brokers that want in on it, due to size of the raising (lots of fat fees).
They are aiming for 60% debt, 40% cash, but... that was before this dip in sentiment, might be closer to 50/50, which means around $70m needs to be raise, a mammoth task, but I wish them good luck!
Luckily, EAR requires much less. With hindsight speaking here, it is perhaps little bit of shame that EAR was not bold enough to lock in some hedging for next year at much high AUD prices. What is done is done though. AUD $1600 is still more than enough to see the upfront costs being recuperated in less than 12 months.
EAR Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
