re: Ann: Recommended cash offer for takeover ... I know coal...

re: Ann: Recommended cash offer for takeover ... I know coal prices have been bad and all, but this board has just been miserable with the cash burn.

I prefer a take-over now in all honesty because otherwise I'd just expect quarter after quarter after quarter of new equity issuances, and eventually if EOC crystallized on the potential value that all of us know about, the share price might only still be at the 38 cent level anyway in the future (due to cap raises).

Always been a big fan of the assets (and props to the team for selecting and applying for high quality tenements), but slow progress and high cash burn prevented this company from succeeding like it could have.

Now with a lack of funding and low coal prices, I'm happy to have a short-term escape (at a higher price). I'd been considering selling in the 23-25 cent range recently purely because I was expecting a very short-term cap raise (and it doesn't take a genius to work out more capital was needed in the near term for EOC!)

After all of this, really quite disappointing.

If coal prices are strong again in the longer-term then this company got an absolute steal with EOC at $0.38