mining tailings versus orebodies, page-7

Plough,

Below is a cut and paste of EVG last announcement.

It says to me that the deal is still not done.

We have "to the extent necessary to allow the first stage of funding to proceed immediately. This involves the provision of a US$7.5 million advance against a 3% gold royalty."

I don't know, but to me this says the remaining 37.5 million is dependent on the other issues being resolved.

8.5 cents seems to reflect this uncertainty.

Just guessing Plough, but EVG fully funded is worth way and above the current price

Regards, Jim


Macquarie Bank Limited, which is providing a US$45 million facility for the Project has agreed to waive its requirement for a Mortgage over the minority participants shares in the development company, EnviroGold (Las Lagunas) Limited, as part of its security documents, to the extent necessary to allow the first stage of funding to proceed immediately. This involves the provision of a US$7.5 million advance against a 3% gold royalty.

Irrespective of the waiver, the EnviroGold Group will initiate and pursue enforcement proceedings against Grimston World Inc to ensure Macquarie Bank is ultimately satisfied in this regard.
een Grimston World Inc and EnviroGold Holdings Pty Limited, and the Constitution of EnviroGold (Las Lagunas) Limited.