share consolidation, page-7

Hi Guys,

Don't get overly focused on a share consolidation.

I talk to BJ regularly and it has not come up. Whether a consolidation will occur as part of a TSX listing or not I am not sure.

Let's focus on the main game.

There has been a lot of crap posted lately and I have avoided commenting as it is a waste of time.

However, firstly to state that BJ is off diluting shareholders by focusing on 'side projects' is ridiculous - if you consider Azuay with a revised profitability of $250-360m profit to EVG over 10 years a 'side project' jeez...

In addition, commenting that things aren't flash at Mt. Gibson is also unfair as BJ has not been involved there for some time. Crap, inaccurate comments from the sidelines are not productive.

Now I've had my rant; some accurate information about Canada:

BJ met with six broking houses, some in conjunction with our JV partner, Novus. (By the way, read Novus's latest Corporate Presentation to see just how good their Dom Republic properties could be for us).

Without exception all six broking houses commented on how undervalued EVG was in relation to its lifecycle and that if EVG was trading on the TSX would trade at least 3x its current market cap. That is their opinion, but interesting all six brokerages commented thus.

Whether the following will happen or not is also speculation, but one brokerage commented that 30% of EVG shares should trade on the TSX to provide Canadian investors with liquidity.

BJ has no intention of issuing an additional 30% shares.

One brokerage put forward a possibility of them purchasing shares on the ASX off retail investors (on market trades) and then having those shares transfer across to the TSX.

Note, they were postulating being comfortable with paying up to 20-25c and they thought they would still make arbitrage money !!

BJ is progressing everything very well operationally. Ozzie investors are choosing to ignore that progress.

BJ is now looking at corporate devices to create shareholder wealth - ie listing in a jurisdiction that is more familiar with Latin America and will value EVG closer to its real worth.

For those retail investors who wish to sell at these prices, good luck to you. I am not sure if any of the above will actually eventuate; just don't bleat when you can't buy EVG shares on the ASX for less than 30c and there is no liquidity here - we've all had our chance.

Cheers
John