EER has become an interesting basket-case for ordinary shareholders.
Consider:
- MC has been pushed down to the point where the resource value is now one-quarter of a cent per tonne of coal (yes I know, not fully JORC'ed yet, stranded location, quality blah blah blah, but its good enough for Noble)
- the two major shareholders are effectively in partnership and own 87% of shares, meaning that the MC owned by other shareholders is currently valued at a measly $2m
- with their related-party financing arrangement they could easily trigger a default if they wanted to, which would hand the entire resource back to the two major shareholders
I hope that ASX and ASIC have this one on their radars.
I strongly suspect that in say 12 months EER won't exist on the ASX - lets hope that the interests of minority shareholders are not dealt with in an oppressive manner along the way.
- Forums
- ASX - By Stock
- EER
- 400 tonnes of coal for $1
400 tonnes of coal for $1
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EER (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online