The problem for offtakers "before making the offtake binding" is that they want Andrew to show capability to dig out anything valuable of the dirt in Tanzania. Some would for sure make "binding" immediately when EGR will pay conventional penalty for not delivering according schedule. ..... and that is the problem, EGR never ever sticked to any schedule in the past and since 2017 postponed start of mining at Epanko year by year. Seven years later still no mining but new promises.
Any other companies share price would have jumped more than 50% on an increase of 127% for their resource. But trust in EGRs fluffy promises vanished like the share price.
EGR management should be more focused on the KfW action than on conferences and women's day parties. If all ducks placed in the right order than KfW will sign in no time. So all facts are on the table and it should have been easy for EGR to submit complete set of KfW forms. Next KfW session we will see whether Andrew and team did their homework this time.
EGR Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
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