I think some funds must think they need a lot of money at a cheap discount. I suggest those funds might have trouble reading the announcements. The company is close to a major portion of this to be done via debt funding.
EAR just added another 233k ounces to the resource, added mine life, drove the resource well over 1m oz and climbing. They could now produce 80- 100,000oz pa for nearly 11 years with what they already have. EAR is trading on a 50% discount to Euros valuation, 15% discount to NST's average purchase price and gold is steady.
The forward PE looks around 3-4 times on conservative numbers, so EAR looks to be trading at a massive discount. Makes me think its only fundies playing games again. I would love them to do 100% debt and watch the stock explode, but its better to do some equity. I would cut the local funds out who have sold and just go for off shore funds. dyor and the BFS is close.
EAR Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
