I think in hindsight, EGO should of stopped any forms exploration and drilling (any forms of spending) to maintain a stable cash position for at least 1-2 years.
Problem with that is that everyone would be complaining that they are not unlocking potentials. In this climate, there is no real win unless there was a major confirmed discovery.
Given the revenue, I don't think that refinancing will be a problem. Hopefully an announcement will be released soon to shed some light on this. BTW, I don't know why there are talks of liquidation, do you know something we don't?
EGO Price at posting:
33.0¢ Sentiment: None Disclosure: Held
