Very positive in my opinion. Fully funds the company moving forward for at least the next 12 to 18 months. Should set a floor at 10 cents and I would anticipate catalysts to make that 10 cent position fairly profitable in the near-term.
The option issue at 20 cents (expiry 30/07/20) gives us a view forward as to where the issuers expect this to go. Also the cash value to HEG on conversion is $3.5m.
Whilst I was disappointed with what appeared to have happened on Monday as small retail you just have to accept it move forward. We're along for the ride and those in control will ultimately deliver strong shareholder value in time.
HEG Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
