RE:RE:RE:Endeavour Mining Announces C$125 Million FinancingI agree that it's a good move - though it caught me by surprise.
Why now? Because they can! Only represents some 7% dilution but could really help them step up that exploration programme I've been banging on about. Means that EDV balance sheet is rock-solid & management have lots of options for growing the business.
Having said that, I'd really like to see a commitment to start paying a progressive dividend once Hounde is complete (subject to performance & market conditions). If they want to play in the big league & be taken seriously, they need to show a commitment to returning value to shareholders.
Lots of exciting announcements to come:
- Karma commerciality
- Ity CIL DFS results
- Q2 results (including Hounde progress)
- Outcome of strategic review of exploration, with plans for explo. going forward
- Revised guidance for the year, incorporating Karma expectations
Shareholders will have to be a little patient though, as it's hard for the SP to rise whilst the bookbuild for the placing takes place.
Cheers,
Mark
Twitter @marben100