Let's Pull TogetherThe lack of information from management other than the last release projecting a nine month or so timeline creates a climate for controversy . It simply causes a sniping atmosphere for posters on this board. We now know that EOM is at least throwing out there the go it alone philosophy. Perhaps it is just to shake the trees for an suitor that was not prepared to make a reasonable offer. Maybe not, but what is in the cards if they are serious.
Going back in time about 12 years ago when Greystar was drill crazy and fully intended to mine themselves, they did a reverse split 5 shares to 1. The result was a reduction to about 30,000 outstanding shares and an increased SP providing opportunity to raise capital to continue drilling. Even three to four years ago EOM had 110 million dollars in the kitty which has since evaporated. Does anyone think a reverse split can again be in the cards as dilution seems again peaking.
Another Option is taking it private. That would open a lot of doors for the major investors. Since they control about 60% of outstanding shares, what is the potential for them to offer us say, $1.50 a share, they could buy us all out for about $60 million. Could they do that? It would certainly free them to manage the situation better.
i only throw these concepts out there to get us collectively to be on the same page, We are all doing our best to maintain objectivity but it is tough in the circumstances. The bottom line is that we do not know what went on behind closed doors, and if there was any chance at a negotiated buyout. And no one is about to tell us. We would be the last to know anyway.
if anyone has any comments on the scenarios I just posted it could be interesting.