well....AGM is this Thur; a perfect forum for questions.
I would like to know when EHR knew each of their projects, and CIFI, had essentially failed.
31 Oct 2012 - 'It is anticipated that financial closure [of CIFI] will occur before year end. To date, neither CIFI nor Earth Heat are aware of any reason to doubt the success of an appropriately priced raising of this type,...'
Two weeks later EHR was in a Trading Halt pending announcement of our 'Broadened Direction'.
Not to mention Kenya and Djibouti, where EHR were supposedly just waiting on a call - yeah, right.
Where to now? A new venture, requiring a bit of start-up capital in the form of consolidation, IPO, name change and capital raising. - just my guess.
We might just initially have enough for a lease and some ground survey - which no doubt will be quite prospective.
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What I don't get with Copahue is why, with $1m in the bank, EHR didn't want to pay the rent with Geo1 and release that glowing mid-year 2012 report, the one projecting increased resource and decreased costs? If all was as EHR stated, interest would still be strong to develop Copahue. But now we might have to just 'hand it back'?
EHR Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
