2 years ago such an ann hat caused the share price to jump over one dollar towards the frog-target of two dollar. But after the tremendous work of the management to destroy all confidence in the business model of EGR the share price rises by half a cent. That is ridiculous and caused by all the fluffy anns and unfruitful sudden changes in the strategy. Nobody will trust Andrew and his team before they show no capability to earn a buck.
Maybe that management is now on the right way but they are 2-3 years late, had spent a lot of money for worthless studies and plans, business trips and worthless conferences, not to mention the huge salaries and bonuses for no performance.
It will be tough task to get the mine financed without a heavy dilution. Good part of the CR for Kwinana plant was already spent with having no plant, not eve the ground work and now EGR starts a new (old) project.
Andrew will have to issue multiple anns to lift share price before next CR ! One good ann would be that management cut their huge salaries and drop theis demand for a performance bonus as long as EGR did not earn a buck,
Let's hope for the best !
EGR Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
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