Ann: EMP raises $1M in heavily oversubscribed capital raise, page-19

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18/06/21

17:45

Post #: 53932278
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Originally posted by Istina: ↑

As for paying for the 3D data they simply were allowed to pay for it over 12 months instead of a lump sum thus allowing for them to defer payment for a few months probably hoping for a partner by then. A few months has gone by and with payments due and operational costs the money they had would nearly be burnt up right now. I think you will find next quarterly the cash they have will nearly be gone as expenditure will nearly double with the data repayments. Not sure who creditors are or this was to broker the share issue, have seen much more for this before.f

Definitely needed to cap raise and a decent amount too.

A $5m market cap has turned into $6m but is still tiny if they can get a partner, acquisition or funding.

If we knew what discussions were going on we would be more informed. I can only speculate that they are moving in the right direction towards a deal.

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Therein lies that dangerous statement they made about having factored into their cash-flow and capital commitments the purchase of that data. It took possibly months to get a bite, and if they didn't, then what? It simply looks like management took a punt and got lucky.

I hope we are lucky to get a partner when its time for an exploratory drill. (planned for this year)

EMP Price at posting: 3.4¢ Sentiment: Buy Disclosure: Held
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Last 4.1¢		Change 0.000(0.00%)		Mkt cap ! $34.04M

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Ann: EMP raises $1M in heavily oversubscribed capital raise, page-19

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