It was good to see EOC acted quickly to secure the right to access further capital. Clearly, they aren't going to roll over easily.
EOC are at a fork in the road. It is where a lot of corporate transactions happen - the juncture between being an explorer and a developer/producer. Dilute or sell out? Long-term or short term? 'The Money or the Box'? Are they really committed to become a producer in their own right? Or, do they kick it up the food chain to the big boys who already have the capital (and the synergies with existing assets)?
I guess we will find out soon enough. As always, it depends on the price. It wouldn't astonish me to see a formal offer lobbed in the not too distant future. Since the initial non-binding 60 cent approach, I bet that discussions are happening behind the scenes.
The calm before the storm, I suspect, with a number of potential catalysts not too far away... But the value looks to be there, whatever EOC decide to do.
Yaq (new holder)
EOC Price at posting:
43.5¢ Sentiment: Hold Disclosure: Held
