I bought in a few more at 12c last week. It looks like it's building a base there. Still very concerned about their cashflow generation and where they're going to get the additional capital they need though.
The question that needs to be asked of management/the board is what restrictions (i.e. negative pledge, equity raising, etc.) are in the convertible notes T&C.
After the convertible notes deal had been done and Gazonor had been purchased, it was obvious they still needed more capital to develop. Relying on the share price increasing and then raising equity obviously didn't work!
EPG Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
