re: Ann: EnviroGold Increases Exploration Act...
I also bought a few more the other day before the latest announcements (260,000 at 12.5 cents) and felt a bit of a fool for paying too much after seeing the price fall as low as 11 cents.
I think the latest announcementa are positive in the sense that if they can get a 15 year life for the LL project then you can value EVG on that project alone with a PE ratio rather than on a discounted net PV basis. The other biggie for LL is that the 600,000 ounce pa production of silver is getting very valuable, and could become even more so. Since silver will be a by-product of the gold production I assume the only costs associated with it will be marketing and royalties. 600,000 x $33 = $19.8m in revenue from silver pa.
EVG is increasingly becoming a silver play in addition to gold. Silver at $50/ounce over the next 2 years seems a certainty. I wonder how much silver there is in the Ecuador projects?
loki
EVG Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held
