In the last quarterly EHR spoke positively on the close of CIFI.
'To date, neither CIFI nor Earth Heat are aware of any reason to doubt the success of an appropriately priced raising'
The trading halt may relate to renegotiating an 'appropriate' price. I think we'll all sell our left kidney at this point for the project to commence.
I would not be the least surprised however to see CIFI abandonded. There has been a certain diffidence in discussing it and no announced planning based on it's anticipated success. It is disturbing that the statement on CIFI is phrased like the statement on Kenya.
Maybe MidOil, as is their way, will take a swag of shares for funding. They have a liking for projects similar to our endeavour. This too, would be OK with me. But MidOil were engaged as advisors.
Perhaps MidOil had mediated a JV arrangement?
The option to take the second trache of Socius funding is due now. To take that up would be horrible. It would be selling shares for cash to survive, with not enough for operations.
I'm worried about the 'review of operations'. Review is a horrible word, it usually means slashing, and we don't have a lot to slash.
It could be that EHR puts the whole operation into mothballs until better times.
We have nothing but speculation really...
If this were better times, with lots of enthusiastic punters about I'd be optomistic.
Knowing this stock, we hope for the best, and it doesn't happen. I really, really need some good news on this stock, but my sentiment is Fearful.
EHR Price at posting:
0.4¢ Sentiment: None Disclosure: Held
