EVG 0.00% 3.1¢ evion group nl

Ann: Further Delays to Financing Las Lagunas Gold, page-16

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  1. cy7
    930 Posts.
    re: Ann: Further Delays to Financing Las Lagu... Just a few thoughts on EVG

    Enterprise Value (EV): (Mark Cap + Total Debt)
    Market Cap @ 4.6 cents = $18.4 million
    Project Finance + other loans = $40 million

    Enterprise Value (EV) = $60 million

    Resources: Page 2 of announcement 04/11/09
    700,000 oz Gold equivalent
    * 92.5 % = 647000 oz

    Production:
    77,000 oz Gold equivalent
    *92.5% = 71,000 oz


    End up with:

    EV$/oz of Resource: $60,000,000/647,000 = $92.73

    EV$/oz of Production: $60,000,000/71,000 = $845


    Proviso:

    These figures will stand correction and am happy for that to happen

    Make no allowance for Azuay Gold Project Ecuado

    Assume project finance and successful start up

    What is a reasonable figure?
    Per ounce of Resource: $150?
    Per ounce of Production: $2500?

    I would suggest higher especially given low projected cash cost and current higher bullion price.

    Anyway it is all guess work --- Buggers me how the shares are currently 4.6 cents and all these large investors are lining up to take placements @ 8 cents, or maybe 7 cents allowing for options. Although last option sale is 1 cent, I think that is being a little generous.

    Dont take a lot of notice of me ---- currently underwater on my EVG investment.

    Regards

    Jim

 
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