Ann: EVG commences construction on Las Lagunas Go, page-24

re: Ann: EVG commences construction on Las La... Quoting this weeks announcement:

“After deducting Government royalties and profit share, EnviroGold expects to make an
average after-tax profit of around $20 million per year at a US$900 per oz Au gold price and
an exchange rate of A$1.00 = US$0.75, increasing to approximately $30 million per year at a
US$1,000 per oz Au gold price.”

US$900/oz at exchange rate 75c is A$1200/oz
US$1000/oz at exchange rate 75c is A$1333/oz

Currently – the exchange rate is 91.3 cents
US$1091/oz at exchange rate 91.3 is A$1194.65.


EVG need to keep projected production and revenue figures realistic.

The market punishes companies who over promote and under deliver ---

I think it is possible that the A$ cannot go much higher than parity --- and likely that the gold price will continue to rise --- but 75 cents is a dangerous figure to throw around.

EVG appear to have a very promising future --- but it is in our interests to promote the company in a very sober fashion.

I tend to believe that Mac Bank have demanded a forward sale position as part of the debt funding ---
That is another worry to me --- tell me a company of late that has benefited from forward selling.

I own quite a few shares in EVG --- it is in my interests that the company performs at its best and a least meets expectations --- preferably exceeds expectations.