RE: 88E share prices Spot Check.....23 Mar 2021 17:24
16.54 - I think everyone agrees (illustrated by price movement) that this has been taken as an unexpected positive.
I agree the accuracy is they are getting paid cash for their work and have separately requested a private subscription of shares (to a materially similar amount). This may be a regulatory or accounting technicality or not but the outcome of each view point is actually the same. ELKO have 360 million share and are net flat cash flat on their books. 88E have completed a small CR to negate the extra costs associated with this drill and despite the extra costs, have materially the same amount of cash in the bank.
At worst, it saves costs and discount for a separate unconnected parties raise, at best its a subversive and preemptive vote of confidence from a technically savvy industry professional in the work thats undergone and is underway