RE: Company Tweet29 May 2025 07:45
Morning Aldebaran.
That’s some speculation to state that all isn’t well behind the scenes? Apart from a longer wait for the license than expected I’m not sure what you’re getting at.
As for a potential raise, EPP raised all they would need a matter of weeks ago.
EPP’s cash balance is sufficient and they have access to the £5.1m GGAF (Green loan facility) with which the cash runway would see them through past FID at the end of this year.
As per the RNS, an MOU with a cornerstone green energy fund was agreed to provided finance at multiples of the current SP. As I understand it from comms with EPP, the cornerstone financer will enter once the license is approved (imminently I hear).
So the decision, with the cornerstone fund, was taken to raise the necessary funds to see them through until license approval and the investment from the cornerstone fund. They have done this as the GGAF drawdown would have charged 12% interest and incurred dilutive warrants.
So, to summarise, there shouldn’t be another raise.