Option conversion in Dec 2011, will supposedly cover other capital needs, and then cash flow from Las Lagunas
None of us is a great fan of dilution, but at least in this case it is to increase our holding in Las Lagunas to 100% and promote development opportunities elsewhere, and as you say it was expected.
EVG may currently be attracting a lot of day traders, and a placement will not be what they were looking for.
Going to 100% of the project will be quite a milestone for the company. I would like to think both EVG and the minority holder do well out of the deal. That way both of us win.
EVG Price at posting:
12.5¢ Sentiment: None Disclosure: Held
