I am not sure where you get your information from, but it...

I am not sure where you get your information from, but it certainly is not in line with due diligence carried out by financial institutions which, in the past few months ‘put money where their mouth is’, as the case of SCBPE (October, 2018 3 year $50 million loan) and Jan 2019 $8.8 million bank guarantee re: 20 year PSC extension. If you do not like the idea of ‘following the money’ you may want to have a close look at the 14 January, 2019 Alpha Deal Group 46 page research report on EWC which, in part, puts EWC’s intrinsic value at  A$1.23 per share and notes that “….we are bullish on the significant valuation gap (ie. current share price 13 cents vs. intrinsic value of $1.23) which we believe is a definite alpha opportunity”.