Average down at every point - I like that idea. The risk of dilution is evident. We all know to avoid further dilution we need an off-take to attract debt financing. The recent placement is a necessary step for off-take partners as it optimizes capex and in ENZR's case should help negotiate favorable terms. Only then will a financier sign the line. To expect more is unreasonable.
Here are the two analyst reports from 6/2014 and 8/2014.
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