Great discussion guys. Interesting to get some fresh eyes on the...

Great discussion guys. Interesting to get some fresh eyes on the stock and interesting to note that it is starting to pop up on the wider radar as a hot stock and for short term traders.

Those that have been following EHR for a while would hopefully agree with me that management absolutely hate dilution and have at all times taken decisions that protect shareholder value to keep the share registry where it is. Most of EHR's peers have many more than 600m shares on issue and are nowhere near getting major (100m+) financing.

What some of the less optimistic posters like nzak have missed is the future project pipeline announcements would likely offset any dilution: by the time they need any significant dilution, if at all, Kenya will probably be in the mix and contributing to forward NPAT estimates, Djibouti and Copahue are multi-stage projects and their second stages will at some point be brought into forward NPAT estimates and that's not to mention any 'new' projects that may come into the pipeline (the Pacific, Australia, other east African projects could all be possibilities).

I think 22c to 44c is a realistic target for 2-3 years because the company will not do cheap capital raisings/issues, there is no need with the likes of IDB clearly so keen to finance projects. Theoretically if the company issued 600m shares at 5c at some point in the next year, that's 30m cash on the books, more than enough to progress Copahue and Djibouti, considering there is debt finance. Beyond this, I am confident any further dilution would be offset by the project pipeline. Even 1.2m shares and a SP of 22c is on the conservative side IMO. ABID would have had access to the numbers and they are a pretty reputable mob, then there is RB Milestone backing it up though that report is a bit out of date now.

Also, I haven't been able to find that chart from the short term trading forum that Fatlak left the post number for, if anyone can post the url that'd be great (when I search for post no.s, it returns no results). Thanks and good luck! Sentiment is buy because there may not be too many more buying opps below 4c IMO.