Nice and succinct and... no negatives. Cannot help but be a little disappointed with the market's lack of interest in EMR. If a W.A producer was able to produce 29k ounces at an AISC of $1150 AUD (approx)..... the market would be in love. In any case, I think the report does give some solid reasons why EMR is a standout, albeit, a standout that is progressing at a measured pace.
I cannot deny, it's a shame EMR were not able to pick up a project that would have allowed them to building right now, whilst Bullseye slowly came together.
As you mentioned about the debt, it's an interesting situation. As their debt facility interest rates will be well below the current ones. So... paying down the debt may make no real sense right now, IF... they plan to deploy capital elsewhere.
I guess they have scoured the world looking for a good project, and... simply cannot find one that fits their criteria, why else have they never used the sprott facility (unless... its terms were horrendously bad, which I think could be possible, considering how much Sprott was able to gouge out of EMR to build the project.
EMR Price at posting:
$1.24 Sentiment: Hold Disclosure: Held
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