The agreement for EPM to pay the shadowy Cerium Pty Ltd, in January's announcement to ASX, has the following information:
So EPM is going to have to spend loads of dollars achieving these goals. And each time it achieves these goals it has to then hand out millions of dollars to Cerium.
EPM's last quarterly shows cash in bank of merely $1,670,000.
I wonder where this $20,000,000 of new cash is going to come from, together with the cost to EPM of achieving a mining licence.
The agreement seems to threaten slow financial strangulation of EPM.
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| EPM (ASX) Chart |