EVN has spent $10.4MM of the $15mm agreed to for 65% ownership. There's no doubt the balance will be spent in this solely EVN funded drill program.
There's an option for EVN to spend an additional $10MM for a 75% stake.
At whose discretion is this the exercise of this option. Clearly EVN would spend; howver, does ERM have a veto? In triggering an option to veto, capping EVN's stake at 65%, I see this being the point for an ERM cr to take the project to the shovel-ready stage, knowing EVN will be primary funder --65%-- of the as yet to be determinerd cap-ex.
In stemming EVN's predatory-based 65% ownership (done during Au's dark days) ERM could retain 35%. Thereby possibly making this discovery a company-maker, piggy-backing on ERM's small mines strategy, ultimately propelling ERM into the smaller mid-tiers depending on discoveries/additions.
So, what are the possibilities concerng this option being exercised, or not?
One part of my investment thesis here was ERM's low risks: cash; jurisdiction; JV interest/approval, and underlying commodity.
OV
PS Thanks (main was it?) for the supergene mushroom analogy, immediately made me think of truffles, a few slices of which will be affodable if things go right.
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4.8¢ |
Change
0.005(11.6%) |
Mkt cap ! $26.14M |
Open | High | Low | Value | Volume |
4.8¢ | 4.8¢ | 4.8¢ | $1.157K | 24.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 22200 | 4.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.8¢ | 20199 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 22200 | 0.044 |
1 | 22800 | 0.043 |
1 | 23500 | 0.042 |
1 | 30000 | 0.041 |
1 | 28344 | 0.040 |
Price($) | Vol. | No. |
---|---|---|
0.048 | 20199 | 1 |
0.049 | 22498 | 1 |
0.050 | 131283 | 2 |
0.052 | 19196 | 1 |
0.053 | 29200 | 1 |
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