Half Yearly Highlights.
EVR’s philosophy and strategic priorities are shifting to cope with this shift in the market. The case for bringing forwardproduction, even on a small scale, are being considered for all of the company’s key projects when capital markets permit.
Placement of Shares
The company concluded a placement of ordinary shares during the half year that raised a total of A$375,000 in fundsbefore costs at a price of A$0.005 per share.
Pro-Rata Rights IssueDuring the period the Company undertook a pro-rata non-renounceable rights issue offer of 1 new share (New Share) forevery 2 Shares held by eligible shareholders at an issue price of A$0.003 per New Share (Offer).
The Offer, together withshortfall amount taken up to date, raised $1.6 million.
The Offer included a shortfall facility under which eligible shareholders who took up their full entitlement under the Offercould apply to take up additional New Shares in excess of their pro rata entitlement (Shortfall Offer).
166,666,667 NewShares under the shortfall ($500,000) were taken up to satisfy part of the loan outstanding to Allgreen Holdings Pty Ltd asapproved at the Company’s Annual General Meeting.
Los Lirios Antimony Mine in the state of Oaxaca, Mexico
EVR will provide all funding for the project through exploration and up to the development of a pilot 300 tonne per daymine and concentration plant producing antimony concentrates. EVR will reimburse the Joint Venture partners US$80,000 towards previous expenses.
The ability of the Group to continue to as a going concern is dependent on a number of matters including:
• The continued financial support of directors who have provided short term loans to the Group and haveagreed to not require the Group to repay amounts owing to them of $1,000,901 until such time as fundsare available or have otherwise agreed to have the amounts payable to them satisfied by way of a shareissue (subject to shareholder approval); and
• $520,000 cash has been received in post 31 December 2024 from the successful placement of the shortfallfrom the December 2024 renounceable rights issue; and•
The directors have provided a short-term finance facility to provide up to $500,000 for working capital andinvestment requirements of the business; and•
The imminent need for the successful raising of equity funding sufficient to sustain planned operations; and•
The Group is exploring various strategic options to enhance liquidity and future cashflows from existingprojects including the potential introduction of joint venture partners, short – term productionopportunities, and partial sale of projects.
Cash ( $219,683 Dec ) plus 520 thousand and Loans.
The Directors certainly have a history of loaning money to EVR. Shows Confidence for sure. But lack of updates?
Los Liros Antimony should kick off. IMO
Yanamina Project Peru has 265,987 of GOLD
Yanamina Project, Peru (EVR 100% interest)EVR will examine options for a small scale start-up of Yanamina, using 3rd party mills in the first half of 2025.
Time to move on Yanamina .
This management group is hard to understand. Some or one of them are waist deep in. Makes you think they would put some runners on.
Molybdenum , Copper, Gold and Antimony . All going off. Right place right time
IMO
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