Ann: Investor Presentation, page-9

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davidosan

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23/07/18

11:24

Post #: 34516782
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Originally posted by Davisite ↑

I am only a bogan, not cashed up, but lots to correct in your post.

1. The decline is already in place. Actually because of all the close parallel lodes the driving is very efficient.

2. The reason for the fall in grade is they have widened the ore drives and then used ore sorting to pull up the grade. The advantage of this approach is that they can be a lot less worried about dilution which is the big problem with underground mining of narrow vein ore. Just run a massive drive down the middle and let the ore sorter fix everything.

3. The reason they haven't drilled to the south is they have only just got approval to drill there. Instead of worrying about this, look at it as cream on top. The south will almost certainly have alot of gold. The same applies to the deeps which are also open. Way more than 250k oz will come out of Rothsay.

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Agree that lack of scale is a deterrence for any institutional money.

Broker data hints at retail selling/buying. There does not appear to be much institutional support which is why there SP has tanked in recent days. I'm certain EGA will recover once sellers are cleared.

Lion Selection appears to be happy to just sit on their 15% stake and wait it out. It also appears that Patersons is now happy to start accumulating @ 23.

Will need to wait to Wednesday for up-to-date Broker data.

Cheers, GLTAH and DYOR

EGA Price at posting: 22.0¢ Sentiment: Buy Disclosure: Held
2 Upvote

1 Great analysis

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Ann: Investor Presentation, page-9

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

'Taking money from the market': Garbage giant cleans up as this week's Hot Stock tip

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up