While still waiting for the promised news on the success or failure of the latest drill, and exactly the path from here, I got pondering the EGO sp situation. It seems to me that with AWE sp now >90c and heading further North due to support, news & TO interest, surely its predators must be seriousl;y eyeing if AWE's dirt cheap neighbour & its larger Perth Basin potential, despite the debt (which is somewhat negated by EGO's existing income & plant facility anyway)?
Assuming AWE successfully defend against current & likely coming TO offers of 80c+, surely those interested predators must be eyeing off EGO as a cheap alternative entry to the Perth Basin? If so, why is EGO's sp interest still so miserable and against the trend? If only we could announce plans to drill that might emulate the Waitsia success, what might this do to our SP? Surely the EGO sp might easily then also head back towards the 60-80c, but that might need to happen after the 80c loan issue is put to bed somewhow? This could get really quite interesting, however, more revealing news & PR is desperately needed by frustrated holders before the situation is likely to change? Only guessing, but does a TO while its cheap seem highly likely soon? Is this the plan?
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