They clearly wanted to divest all non-core so that they could focus on Greenland. I’d be asking why almost 3 years after trying to engage the elders of the land why their has been no update on it. Maybe ask Pokies, he seems to have a good feel for uranium and locals not wanting it to happen. Maybe he can give you a guide also as to why they have had two unsuccessful attempts to IPO it.
There are many other reasons why the share price is dying, investors need results. Posting the same quarterly every quarter gets a bit tiring. So much potentials! How about converting some of those potentials!
Reality is they haven’t actually progressed the Greenland project in any meaningful way in the past 18 months. Hopefully they can soon with some drill results. As they must be awfully close to draining the well for cash.
There are also a number of issues with the capital structure which make it hard for them to bring on new investors. The stock overhang which will happen if they do progress the project is huge. I simply can’t see how in this environment how they can raise the cash to meet the milestone payments
EPM Price at posting:
2.0¢ Sentiment: None Disclosure: Not Held
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