re: Ann: Further Delays to Financing Las Lagu... Just posted...

re: Ann: Further Delays to Financing Las Lagu... Just posted something similar on a Gold thread, but this more specific to EVG.

It would appear to me that Bullion is in correction mode.
From what I read, once Gold broke down through 1220 it was on
The move was confirmed with the HUI falling below 470.

Possible targets for bullion are 1160 or low 1100's

Correction to supposedly be over by October.

So maybe rest of July, August and September to go and after that it is apparently onward and upward, with large moves predicted in both Bullion and the indexes.

The problem for EVG is that with Finance supposedly to be approved by end of August it could have us forward selling into a correction. A most unfortunate outcome.

A catch 22 situation we find ourselves in. We cannot afford to delay Finance and we must forward sell to meet the conditions of the loan.

Any thoughts out there. We have not had much luck with this little company.

Market Cap $17.5 million and I participated in the rights issue in October 2007 which raised $16 million.

The company is seriously undervalued, but the series of events that plague it seem to to keep on coming.

Any way around these forward sales?

Do we have to sell the whole 120,000 ounces in one go, nearly 12 months out before production begins, and in the middle of a correction?

We have some posters here who have serious influence over EVG.

Regards cy7