EER 0.00% 3.6¢ east energy resources limited

I can't see there being any capital raising soon, and certainly...

  1. 46 Posts.
    I can't see there being any capital raising soon, and certainly not at these prices. There's still going to be close to $1m in the bank as at the end of December 2011. Any cap raising would be after the JORC announcement expected next month, at much higher prices.

    Perhaps a quick comparison to REY. Although they are much further progressed, they have a 600Mt resources and a $54m market cap. EER are looking at 1.5 billion tonne resource with a market cap of $30m. Seems cheap at these prices?

    Look at the chart too. It just bounced off the 13 day SMA, after it put in a higher low. We've also seen it move up on increasing volume too. Let's see it it can break through the 60 day SMA.

    The 4c will be out soon, and will tell us more. I've got a 25c target over the next 2 weeks before moving higher after the JORC announcement.
 
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