You ask what the reason for buying this property was.
ANSWER,
EDE accessed a property at Augusta Corporate Park. It came with government incentives. EDE had a diagram detailing the development on that land and the scale of the production. When the access road to EDE’s plot started to be developed, EDE pulled out. But they didn’t just pull out, they announced the purchase of this new property. They claimed it had rail access hence the purchase.
I posted at the time the reason EDE vacated ACP was because the access road development was commencing and EDE was faced with the reality of their market deception re EdenCretes market demand and creating its manufacturing facility.
The purchase of this new property was another market deception to buy time, imho. Because what EDE had disclosed to the market was not going to happen and a new deception was needed.
Now EDE have to sell this property to pay its liabilities.
If EdenCrete was penetrating the market, they would develop this property to produce product. Instead, they are selling it.
Wakey wakey
EDE Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
(20min delay)