Query - I dont understand how it got to this. What the company couldn't find 100K to pay the interest on the loan? Surely other things could've been done.
I estimate it would cost at the most 1.5 Million to get the well pumping gas and condensate again. Why didn't EGO Capital Raise that money.?
I think this all harks back to the original loan agreement between MIN and EGO. Remember the one where EGO sought a waiver from the ASX for an exemption from obtaining shareholder approval? I just wonder what covenants/ restrictions were placed on EGO which has prevented this company from getting further funds to fix the well and pay the interest on the loan?
Can someone please remind me how much did we pay for that new accounting system?
EGO Price at posting:
12.0¢ Sentiment: None Disclosure: Held
