Looking at the annual report, EAR had 17mil in the bank and nearly 27mil loss for 2019.
Although it has resources in the ground and accumulated losses to offset future taxes, it does not have the money to capitalise on these at the moment.
42mil to get the Yandal project moving and another 30mil to keep the company running another 12 months.
Worse case scenario, can't get a loan, so a captial raise is needed. $75mil @.30c = 250mil shares to add to the current 730mil.
From a very quick look (probably missing a few things)
Personally, I'd be taking the money and running .
It would appear NST are keen to get that mill up and running and expanding in the Yandal area. Because of that, I'd be taking my money and investing in the EAR and NST neighbours.
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