ERM should abstain, page-25

Yes it is Ahjay but only after the consolidation. Who the hell is going to buy into a company at a price of 60c to 70 which owes $15m payable in 9 months and has not much else going for it. One well and cannot afford any more. To carry out EGO's drilling program in the next 12-18months EGO needs at least $40m.
Yes they will do a CR (a placement) but at what price and at a discount to the prevailing VWAP for the previous 10 days and that will not be at the price of consolidation. The SP will fall before a CR is announced.

That my friend is what many shareholders are concerned about.