Ann: AOP:Agrees Terms for $7M Divestment of Northern CdI Projects, page-4

I think you misread this release WGDT72. I see it as Apollo selling their 20% to a fund, not ERX and whilst ERX has the opportunity to match the sale offer and take a full 100%, I don't see where ERX have said that they will do that and reduce their cash base. Maybe they will exercise their pre-emptive right which will reduce their cash but given the potential of the project (I personally think they will probably end up with plus 2-3 million ozs) that would probably be a cheap cost to get a full 100% of the project