I understand peoples grievances with placements to insto/sophisticated investors.
Though in this case at 19cents for $6mil cash with nontine wasted by company goung to shareholders with letters and then waiting for the payments. This is quick easy and efficient and was at a fair price imo. Enr run up over 30 was just mommentum players looking for a few pips or very over zealous investors thinking nore value than there was.
Just my thoughts and at 19 the placement was good value for the company.
I have held enr for a long time and accumulated stock at much lower levels.as there strategy is different to most juniors in the OZ market. They take the same approach as US and canadian juniors.
Greenfields exploration then look for a JV to partner the costs and keep 30 percent.
Smart.
Ill bank a few profits on the way up and.keep a few in the bottom draw. Then reset rinse and repeat.
Cheers
ENR Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)