re: Ann: EVG reports on its near term expecta...
Excitig times guys, and great that the story is now being told to a wider audience.
Something of note (and new) in the last presentation relates to the possibility of San Gerardo becoming a major exploration target adjacent to EVG's Ecuadorian development project.
There are some interesting background points that whet the appetite here:
Historically there is evidence in the region that gold has been mined since the days of the Conquistadors.
Even up until today, mining methods are very rudimentary using the most basic of tools such as pick and shovel and visual tracking of gold.
In a practical sense it means that these mines are using 19th centuary technology and they have had no idea what resources they may have.
(1) Open Pit mining means very shallow mining (<5m in most cases until the pit sides become unstable, the shoveller gets tired, or the rock becomes harder).
(2) For vien mining it means that miners only track a vien from a surface outcrop underground until they lose it or it peters out.
Given that the rudimentary methods have confirmed that San Gerardo has been delivering grades of 4g/t from open pit and 17g/t from underground viens the scope for EVG (using 21st century technology and techniques) to find a major resource is good.
San Gerardo is:
(1) Mineralised (2) Has been historically mined using basic methods (3) Is adjacent to 2 properties that conceptually hold a conservative +1m oz of 10-12g/t gold (4) Was identified by EVG employed consultants as a property of interest(prompting the current option opportunity) (5) Is over 3x the size of the Pingalo and Papercorp properties (2200ha)
EVG will, within a year cover all four bases:
(1) Producing asset in Las Lagunas (2) Development asset in Pingalo and Papercorp (3) Exploration asset (if option goes ahead) in San Gerardo (4) Concept project in Trujillo, Peru.
Even today's 9.4c is ridiculous - but the story is now being told.
Cheers John
EVG Price at posting:
9.4¢ Sentiment: Buy Disclosure: Held
