Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
MrMarkyB hopefully our patice will pay off and we all get our investement back with some profit. It's been an emotional journey with ECHO for all of us, a few ups and downs. It looks like they're getting their act together after the arrival of Martin who made strategic and timely descisions and saved the business during this difficut time.
Last year in October SP around 3p without Santa Cruz assets, now with production and 3 more Tapi Aki wells plus opportunities on the new asset, this should pass that price range easily. It just needs investor confidence. Bod need to give us regular updates and deliver with the promise of building a cash positive business status from the board. They also said gas production volume increase is expected hence purchasing the compressors. We want the Work overs and well testing and activities to start and I'm sure this price will be a distant history.
Best to average down if there is a spare cash. Hopefully this will climb back up to over a penny initially. It has a massive potential but the silence from the board is agonizing. It's been a very long wait of over three years for thsi to come good. They need to get back to Tapi Aki.
I Hope they arrange a limited credit facility 1-2 million for the workovers, Monte Aymond and Palermo Aki with out further diluting the share price further as they said these have a quick pay back period.
Lets see what the "exciting" growth period brings for us.
lets hope you're right abzzba, just added another 837,344 at 0.36P to bring back my average to 2.4p from 12P. lets hope it will pay off.
I need VAT retention to be reinbursed to fund Tapi AKi options & Palermo Aki well to come good
to return my investement back, with may be some profit.
Martin said last time we built cash flow positive busiess so lets hope the next production update confirms that.
Still shows 81% on the website, nothing has changed in terms of ECHO holding of 19% apart from a different funding strategy.
https://en.cgc.energy/our-assets/
https://www.echoenergyplc.com/media/1517/2020-07-16-tapi_aike_web.pdf
Agree. For those who averaging below 4p, there is a good chance of hitting some profits at some point. Entering the current price with production in place is a great opportunity. This is now new company. My isa averaged 12p and I know I will never be that back. However my trading average is 1.15p which I beleive will be in profit soon.
The market has already written of TA by evaluating ECHO at 5 million : for a company with a production of over 25000 bpd. I don't think there will be change to SP negatively. If it's anything, it's a positive news. Option to exposure of a few TCF for a small entry fee. This is now a completely new company.
With no upfront cost and an option to enter for 19%, it's almost like a free carry. It's a good business in my opinion. We can use the money to advance our workover in the short term while keeping the options to get. Back into TA.