– I wouldn’t push EVG too much --- if they are going to be any good the company actions will ultimately determine the share price performance ---
EnviroGold’s first generation of projects in the Dominican Republic, Peru, and China are all expected to operate for at least 10 years -- all are planned to be operational within 3 years (as @ Oct 2007).
EVG have some stated short term goals:
1. To issue up to 100 million Ordinary Shares in the Company at a price of $0.16 each, under a prospectus to raise $16 million ---- they achieved this with ease.
2. EnviroGold is in the final stages of negotiating a US$22.0 million facility with its bank for the project finance for the Las Lagunas project --- waiting.
3. EnviroGold’s listing in Toronto (TSX) --- waiting.
4. Commence construction of the Las Lagunas project in October 2007 --- waiting.
--- So we wait on numbers 2, 3, and 4. ----
If the company is true to its word, the share price will be strong into December and the 36 million 20 cent options which expire 31/12/2007 will be exercised.
Short term it is important that the stated goals 2, 3, and 4 are achieved.
The US$22.0 million facility is the next. --- I thought the announcement would be out by now.
I personally have faith in the company management --- for me it is all about that --- but eventually that faith needs to be justified by performance.
The market depth looks great --- the graph looks great --- the management appears to be top class --- Gold price outlook is very positive --- and the company appears to have a definite business plan.
There are no guarantees however.
The final hurdle -- will be proof that the Albion Process can be applied commercially --- we wont know that for sure until the Las Lagunas project is up and running – hopefully by the end of 2008.
EVG Price at posting:
0.0¢ Sentiment: None Disclosure: Held
