EGA is tightly held, that is for sure. Was going over the PFS last night and one thing that struck me was how beneficial these latest shallow northern, and east Woodley shear discoveries will be for early, high-grade feed for the mill. Year one was looking a little slim with mine development factored. Can now see significantly more produced in year 1, allowing rapid pay back of debt. Particularly if we have anything over $1600 POG.
Good to see a little volume again today. All the spec goldies seem to be hot at the moment. EGA is a sleeper and not recognised by the market IMO. Look at DRG (a similar idea, old high-grade mine, underexplored in modern times), the SP has gone from 2c-9c (MC$25mill)on the back of a few high profile investors, they haven't even poked a drill in the ground yet and have no JORC resource?
I think people will meditate on the idea that it's better to have a small, highly profitable, low debt/capex mine, than a large marginal one. I can see Rothsay rewarding shareholders handsomely over the long term.
EGA Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
