Eco has released its financial results for the 3m to 30 June 2021, with disciplined cost control delivering a strong balance sheet. As of 30 August, Eco had cash of US$7.2mm (including US$0.5mm restricted deposit) and no debt following the close of its US$10mm investment into JHI in June and its US$4.9mm raise through a private placement in July. Eco’s cash burn rate remains low as a result of low exploration spending, G&A and compensation costs. Eco together with its strategic partner and subst ....
31 Aug 2021
Results show continued cost control with giant exploration prospect on the horizon
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Results show continued cost control with giant exploration prospect on the horizon
Eco (Atlantic) Oil & Gas Ltd. (ECO:LON) | 8.5 0 (-3.4%) | Mkt Cap: 31.5m
- Published:
31 Aug 2021 -
Author:
Anish Kapadia | Jay Ashfield -
Pages:
3
Eco has released its financial results for the 3m to 30 June 2021, with disciplined cost control delivering a strong balance sheet. As of 30 August, Eco had cash of US$7.2mm (including US$0.5mm restricted deposit) and no debt following the close of its US$10mm investment into JHI in June and its US$4.9mm raise through a private placement in July. Eco’s cash burn rate remains low as a result of low exploration spending, G&A and compensation costs. Eco together with its strategic partner and subst ....