Empire Energy Corporation Intl. (fka EEGC)

[oilsleuth]

Whether you believe it or not it is how MRT grants licences and there is good reason for it. They don't want faux explorers squatting on ground doing nothing and possibly blocking others from gaining access.

The work performed on ELs is already reviewed annually and Mal has been given the benefit of the doubt in the past but then continued to under-perform.

No party would grant loan monies to an explorer that is broke and has no underlying asset to secure the loan against. If you remember the Smart Win funding was a convertible note although how they ever expected it to be repaid at their election if Bellevue proved to be a dud is a mystery.

If funding were to be found at this late stage (7 months after the ERA application period closed) it would need to be in the form of money sunk into a JV for an interest. But then what would TOGA have of any substance to bring to the table? Nothing except Mal's BS patter.

Talk of the Tasmanian Government getting into quantitative easing (if that is what you are saying) is plainly ridiculous.

Eleven years after EEGC acquired GSLM and there is nothing to show for it. Very few people are left who still believe in the rivers of BS.