Appreciate your response, but again agree to disagree, with $2.6 million in cash, they can start building, and agree they cant use all of that but they can definitely use most of it, how much are you saying they cant use, how much buffer do you want? The NAB facility is there as a buffer, with $330k a tunnel, could definitely get the rest of the year of tunnels done without dipping cash reserves too low, thats most of the tunnels and then more cash coming in over the year. Like Im saying we can defintiely build, and this cash raise was not needed now, could of waited until we actually needed to dip into the debt facility before taking away 15% of the company from current shareholders and giving it to other investors at a discount.
Didnt know about the debt facility being halved, I wonder why they have it in the latest presentation released just today if they are aware its not the case.
ECS Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
