I'm with you Lucky... still a significant upside.
While the dilution will have an impact, personally (like AF) I'm backing the core management team and Chair (Cheryl Edwardes).
Clearly they've all done their own due diligence, and at a purely technical level the Mulga Rock project looks sweet... I'm no expert, but if they are happy, as an investor I'm happy.
Personally, I think business is all about relationships. And EMA are making all the right moves. I think a solid relationship with AF, and MY's proven ability to cut through BS will see EMA do well.
IMHO, it's a long term gambit.
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