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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5.4¢ |
Change
0.001(1.89%) |
Mkt cap ! $29.41M |
Open | High | Low | Value | Volume |
5.4¢ | 5.4¢ | 5.0¢ | $20.40K | 389.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 19800 | 5.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.4¢ | 82620 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 19800 | 0.050 |
1 | 60000 | 0.048 |
1 | 30000 | 0.045 |
1 | 23800 | 0.042 |
2 | 234390 | 0.041 |
Price($) | Vol. | No. |
---|---|---|
0.054 | 82620 | 2 |
0.055 | 147851 | 1 |
0.056 | 100000 | 1 |
0.057 | 34800 | 1 |
0.058 | 250000 | 1 |
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