what do others think

This post is obviously only my own views ---share price currently under pressure ---current placement of 100 million shares @ 16 cents obviously not yet settled.

EVG:
…. established specifically to recover gold and silver from existing high grade sulphidic tailings or mine concentrates owned by third parties …. will utilise Xstrata Technology’s ALBION PROCESS

Management:
Brian Johnson – Executive Chairman … is a civil engineer with extensive experience in the construction and mining industries -- Nevada Goldfields Limited, Austral Coal Limited, Portman Limited and Mount Gibson Iron Limited.
Holds: 8.78 million shares and 40 million options 31/12/2009 @ 25 cents.

* Shares on issue:
Currently have 97.6 million shares on issue.
36 million 20 cent options ex Dec 07
43 million 25 cent options ex Dec 09

** To be issued:
100 million new shares to be issued @ 16 cents (General Meeting 220807) -- Includes 50 million free attaching Options over Ordinary Shares in the Company, exercisable at $0.25 each on or before 31 December 2009. (for Las Lagunas project)

*** Previously:
Brian Johnson is confident that EnviroGold will be able to finance two new projects of similar size and profit potential to the Las Lagunas project (one in Peru and one in China) within the next two to three years, primarily from internal cash flow so as to minimise future share issues and dilution.

**** Total Issued Shares:
200 million shares
130 million options

****** Net position:
Projects: Dominican Republic (2008), Peru (2009), and China (2010):

To produce over 200,000 ounces of gold per year over the next three years.

Potential/Planned Resources: 1.6 million ounces.

330 million shares fully diluted and all project fully funded??
Market Cap @ 14.5 cents = $ 48 million

Market Cap/ oz production: $240 (reasonable valuation $1500)
Market Cap/oz Resource: $30 (reasonable valuation $150)

Has the capacity of a 5 fold increase in the share price --- at today’s prices.
What do others think?