Hey Binwood,
Cheers for the reply. EMR is an interesting stock, does not seem to get much discussion, yet... its the quiet achiever.
You are correct, the $20m AUD currently available, should be enough, though it would seem, that even the early numbers imply it will likely be worst case, cash flow neutral.
The build has gone well, so has the initial ramp up. Cannot really fault them. Which, is actually bloody rare.
That being said, EMR is trading at a premium to what I view as its peers, except for CMM (which to date, has also had a fairly faultless transition from developer to producer, but, to be fair to both stocks, its very early days). That being said, I think it has good potential to trade at a higher premium, so to speak, though I feel it has less upside than some smaller producers, that have been really beaten down due a myriad of issues.
I like EMR because it offers diversification from W.A producers (and even African producers), which are facing quite a few challenges (though I realise, one of their goals is to purchase an asset back in Australia).
Well done to those who backed the EMR earlier on. I was a bit hesitant, and as such, buying now for me is more about spreading risk, with, the core reason being they are going to be extremely low cost, and be viable no matter the POG.
Good luck to all holders.
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