Perhaps people fear the effects of massive cash payments that are still to be made to that shadowy company Cerium, and the dilution that will take place when millions of EPM shares are still to be handed over to Cerium.
Have a look at the details of the contract announced by EPM to the ASX on 14th January 2021. It made my hair stand on end.
Note that Cerium is already EPM's largest shareholder at 14.68%.
The new EPM shares that are due to be handed over to Cerium make it seem inescapable that Cerium will be over the ASX 20% limit, and therefore be forced to make a takeover bid for EPM. Who knows whether Cerium will be generous to EPM shareholders.
EPM Price at posting:
3.7¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)