redux, thanks for that screenshot about MidOil. I think boppy's take might be on the money. CIFI unable to close on the $30m project equity raising, hence, MidOil come to the rescue.
I'd say that Torey is probably desperate to have some good news for tomorrow's meeting otherwise he could be facing an angry crowd of shareholders. Do you think he might announce finance with MidOil?
MidOil would be taking into account the nature of the project (proven conventional geothermal resource), the positive support from the Argentinean govt, and the fact that the project is 90% financed through IDB, CIFI and AGS Capital Group. What would make this extremely attractive to MidOil is the rock bottom share price. They then take an equity interest at a time when the market cap is a mere $5m.
Think about it ... the market cap is so low because the market doesn't believe in the Copahue project. Suddenly, MidOil come along and provide the finance that ensures the project proceeds (not confirmed as yet). With a fully financed project, the share price can only go up. MidOil wins big-time. Not only will they earn interest on their investment, but they will have a sizable chunk of equity that has appreciated in value from 0.7c to say 5c+.
I only wish I had the spare dollars to buy more shares at current prices. Got a feeling that when this stock recovers it will go bunta. Am changing my sentiment from Hold back to LT Buy.
EHR Price at posting:
0.5¢ Sentiment: LT Buy Disclosure: Held
