On the plus side, the fact that a cornerstone investor is still sniffing about the traps is a good sign. Someone mentioned, a long time ago, that a cornerstone investor would likely be conditional on the Fiale project.
Perhaps Torey's real reason for requesting an extension to the suspension was so that he can buy more time to obtain permission from a partner organisation to make a material price sensitive announcement. I'm thinking here of the strategic review by a middle east entity.
As for the $30m cap raising, I am comforted to know that EHR and CIFI are confident of success, however, I am a little disappointed at Torey's use of the phrase "appropriately priced" and his indication that the timeline has been affected by "macro events". Reading between the lines, this will take longer and be at a lower price than initially planned.
EHR Price at posting:
1.5¢ Sentiment: LT Buy Disclosure: Held
