EAR 0.75% 33.3¢ echo resources limited

Hi Davi, I am as surprised as you that they look to be able to...

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 7,303 Posts.
    lightbulb Created with Sketch. 664
    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.
 
watchlist Created with Sketch. Add EAR (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.