I'm assuming everybody has read the announcement correctly?. No shares have been issued to ARUP yet. They won't necessarily be issued at 90% of the CURRENT vwap.. They'll be issued at whatever the vwap is when they are issued, sometime over the next 12 months. Two totally different things if you are a believer in the future of ESI.
And don''t forget, ARUP are our GLOBAL partners. When this goes, they'll probably immediately start preliminary work on the NEXT plant.
This is great news.
Ann: Capital Raising and ALDP Update , page-34
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