EGR has $25.4 mil sitting in the bank and have no debts.
When you consider their MC, having over 50% cash backing isn't a bad outcome for shareholders.
Why do you think EGR needs to raise addition funds?
From what I can tell, we are still waiting on the approval from the SML, the revised approval of the RAP, on the graphite purication side of the business, the Customer Evaluation processing facilty was completed and we are soon to hear back from IPAustralia on our latest amendement to the patent.
I honestly cannot see EGR needing a CR anytime soon, as neither project is at the point of needing any significant investment, What do you see which would cause EGR to raise funds above the $25mil they have on hand.
BTW, I do think your company needs to require an injection of equity, the ASX announcement clearly stated they needed funds as per the changes of their loan agreement. I hope you don't suffer another highly discount CR, the last few have been horrible for shareholders.
EGR Price at posting:
9.9¢ Sentiment: None Disclosure: Held
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