couple of questions if I may. I have followed the stock, though to my detriment I did not jump in when the wise @fbx258 tipped it back in the $0.40 range.
Just taking a look at the recent quarterly and the funding agreement Sprott provided EMR (just being honest about it, I really, really dislike the debt facility covenants he was able to push onto the company).
EMR was sitting on $47.4m, with expected spend for the June Q of $28.9m. Leaving $18.5m.
There is also, potentially, $10m which cannot be accessed (but, that is part of the $47m shown above)... I realise they have poured gold etc. Yet, most debt facility require some sort of locked cash up until the loan is paid out.... anyone have clarity on this?
Also, the company mentions it has 'contingency funding' available. Any idea exactly what that is?
Not trying to down ramp, just wanting clarity on whether EMR really is 'fully funded'. I suppose it can easily be argued, they are, for the build. But.... I have sadly seen this exact statement in many, many company presentations.
I note that the March quarter saw them spend approx $4-5m more than they had budgeted (not saying they are not within budget, more just that, higher spending, may still occur).
Anyway, not a holder yet, but.... I think the company has done very well to get where it is.
Finally, whilst I know it is their stated goal of buying a Australia asset (... that is currently producing..? or ready for development?) Not sure that would be super wise with the labor shortages and cost pressures being seen in W.A. But obviously, the board have a few more clues about this than me!
Good luck to all holders.
EMR Price at posting:
87.0¢ Sentiment: Hold Disclosure: Not Held
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