While awaiting feedback I might take this opportunity to remind stock holders and option holders of the new 0.1c option offer that was ratified recently at the AGM:
"RESULTS OF ANNUAL GENERAL MEETING
Mr Brian Johnson, Executive Chairman of EnviroGold Limited (ASX Code “EVG”), is pleased to advise that shareholder’s approved Resolution 1 for the Issue of New Options under the EnviroGold Limited’s non-renounceable pro-rata offers of:
1 New Option for every 2 Shares; and 1 New Option for every 2 Options,
at an issue price of $0.001 each to all Shareholders and Optionholders holding existing EnviroGold Limited Shares and Listed Options on the Record Date of 18 December 2009.
The Company will despatch the Prospectus for the offer to all Shareholders and Optionholders on the 24th December 2009.
With an exercise price of $0.15 each, holders of the New Options should benefit from an anticipated growth in the Company’s share value prior to the New Options’ exercise date of 31 December 2011.
The nearly $40 million funds that could be raised through the conversion of the New options in late 2011 are expected to be applied to EnviroGold’s proposed Azuay gold mining project in Ecuador."
EVGOA getting hard to buy now. The new options seem exceptional value even at 2 for 1 as the heads are already at 10c and strike price is only 15c yet expiry is two years away. Seems like a no-brainer to me. But always DYOR.
EVG Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
