Bricklebar, am sure these things are coming, in due course.
the combination of a new CEO and a revitalized board are already in place and we're seeing the impact of these moves already in share price, market cap, volumes traded etc.
there is no doubt a lot taking place beneath the surface too, which isn't newsworthy as such but makes the EGL vessel ever more seaworthy.
i can't remember if the company is required by ASX to report quarterly or half yearly.
but as it's coming up to the end of the March quarter, i'd like to see before too long issue of full year guidance for key metrics or confirmation of existing guidance. In part just to limit the risk from any negative surprises.
EGL reported in the half yearly at the end of February that it had around A$764k in the bank.
this strikes me as running too thin.
thinking out loud here and not being privy to any discussions within the company, if EGL wants to expand it will need capital to do so, and might tap shareholders to fund a decent plan.
if stellar SP gains continue, a CR at 10c to raise $5m might be possible in coming months.
yes this implies dilution of 20-25% or thereabouts but should be seen in a positive light.
the company would then be well capitalized to grow the business. and shareholders likely would benefit from increased liquidity, something that has always been a problem to date.
EGL Price at posting:
7.2¢ Sentiment: Hold Disclosure: Held
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