Tbh it is fairly interesting that from the SP/SH perspective:...

Tbh it is fairly interesting that from the SP/SH perspective: creation of new shares and issue to EBRD is of no interest to the Shareholders. KC has mentioned in one of his recent interviews that EBRD offered to buy into EMH with a EUR20M tranche, however, EMH declined. Could you imagine dilution effect of that, if EMH went along with it? Jeepers. The dilutionary impact to EMH's 'slice of the pie' would have been 20%, (20% of 50% that is), that would have been an absolute disaster for the SHs.

Whilst I am glad that we have EBRD on our board/register, as it certainly can 'open doors' to some serious finance, however lets not forget EBRD are not shmacks either. They will scalp EMH from the project ownership % in no time, especially considering how much money they have available in backing (almost limitless in application scale of this project).

Going forward I would very much prefer for EMH to not raise equity at least until when EMH's immediate SP catalysts have played their part on SP (DFS, Samples, Offtakes, FID). Even the 6% that EBRD bought into - in the long term that is going to be looked at as the bargain of a century.