Yes, I've found it interesting that the CLE repayment date for the multiple EUR loans has been updated to 31 March. They could have made it 6 months end of June to be safe, but no it's earlier. So IMO something is brewing to happen very soon, although they could keep extending the date.
I believe CLE are waiting for and are expecting some share price appreciation on their 4.49% of EUR by end of March, before they repay. And could a strategic or cornerstone investor be coming in for it? Saudis would be nice.
At the very least it increases the register strength and getting that 10% blocking stake to keep any opportunistic predators away.
Yes CLE are raising around A$1.35mill but this is much needed working capital for all their multiple projects, especially for the new Iron ore one in Canada. Not much funding for them in the scheme of things, so they need to monetise their EUR stake or sell another project to get going. Plus I think with all the loans added, I could be wrong but it seems about A$1.75 mill owed to EUR now, more than CLE have after the raise.
So much to happen and look forward to over the next 1-3 months with EUR, exciting times!
EUR Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
