It was a good quarterly, but could have been better. It still needs that final investment decision to be signed by the board. That is dependent on finance from the banks, and that depends on the access road completion - IMO. Just how fast they can build 20km of new road in Cambodia, I don't know. It was disappointing to read that after 2 months they are still in discussions about it. Longer than that in fact, as far back as late 2016 they were talking about it with the authorities. I have a feeling that the banks want to see a clear route to the site in place, so there can be no hold up. Also it must be sound financial policy not to take out a loan if you cannot immediately use it. Why keep the cash in the bank and pay interest on it? More conservative investors will want to see the final investment decision signed, and the bank finance available before committing their money. At that point there can be a solid floor under the SP from whence the only way is up......"per ardua ad astra"
EMR Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
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