Given the history of this board, mistakes they have made, I think that the company will struggle.
$15m debt due to be repaid in less than 4 months from now with no surety of being able to repay.
Will the loan be extended by ERM or refinanced?
Will there be a sale of the gas plant?
Will there be a capital raising?
Will there be a farmin?
Whichever option ends up being the one to deal with the debt will not end up being favourable for EGO shareholders due to the weak bargaining position we find ourselves in.
I would love to be wrong so have hedged my bets with only selling about half my holdings last week. To be honest I don't like our chances and think we will find ourselves in penny dreadful territory again eventually.
EGO Price at posting:
34.0¢ Sentiment: None Disclosure: Held
