Well Koala you do appear to be one of the less cynical voices in the chorus and I do understand and empathise with your dilution concerns especially after waiting patiently for 2 years for a suitable opportunity ..... hopefully with a little bit of good fortune it will be worth the wait ....
On the bright side from what I can understand at the moment about this deal including comparing it to a project located adjacent to it (VRX) which I might add has some high purity sand of its own with an aim to produce a similar product. The product appears to be becoming increasing rare to find, a consumable, in demand and set for growth.
The tenement area is extensive , close to Perth and although 82 holes to 10 meters may not be considered satisfactory to some , the consistency of the results would indicate more on the positive slant I consider. Which suggests a low cap ex , quarrying operation at the low end of production complexity. Should a feasibility study be completed for this operation I would suggest it would not provide anything less than the one completed for the project next door, and that provided bullish sentiment next door.
EC has either been lazy or selective for the benefit of the shareholders however the way this deal is structured I would suggest the latter. There is a 2 year cash position supported by an option arrangement to fund another 2 at that time,supported by a access agreement for defence out to 2024 outside standard 12 month access arrangements from this sort of enterprise.
The new management appear experienced , qualified and capable of running the show ..... I mean as I usually do .... I am trying to find holes in it but that is not easy to do , It would appear this has been well thought out and has every chance for a good result and been given the best possible chance to achieve that .......
I will keep looking but save a new compound being discovered to make glass , I want to be involved with this .... just my thoughts be the way .....from outside the citadel
CRB Price at posting:
4.2¢ Sentiment: None Disclosure: Not Held
