Removes doubt about their cash position and will enable them to move forward with drilling - hiring new geologists and ramping up exploration.
And with EKM (about to be GOR) drilling means a stream of "High Grade Discoveries" and "XYZ resource extended to the North and South" and the occasional "Bonanza Grades at XYZ"
Last cap raising it was hanging around 10c, the cap raising was at 8.5, the SP dipped to the cap raising price then took off.
So I would expect perhaps a 25c to 30c cap raising. A bit of a dip for a day or so and then buyers move in.
So put on your seat belts and grab hold of something coz we will hit a bit of a pot hole - after that it should be smooth for the next 6 months or so.
EKM Price at posting:
36.5¢ Sentiment: Hold Disclosure: Held
