A long time contributor 'hereandnow' comments on raise .....The raise will give GH negotiating room. Cash in the bank, a fully funded appraisal campaign to follow the summer's discovery/s. No need for funds, no pressure on the SP. Any suitor will have to pay full value for the asset. They couldn't try and squeeze the price because the company was desperate for cash. A small dilution now will lead to a much bigger premium being paid for the asset IMHO. If they hit oil this summer, I can't see ECO owning Guyana by the end of the year. The raise is a very wise move.
Wisely written I might add, many thanks!