re: Ann: Further Delays to Financing Las Lagu... Hi...

re: Ann: Further Delays to Financing Las Lagu... Hi Guys,

Miningnut - I'm tapped out so wont be part of the new raising :)

In regards to the arbitration my understanding is that it will be solved within that time frame (19-23rd July) and that EVG holds all the cards.

Even if the other party does a no-show, then by international arbitration rules a judgement similar to a power-of-attorney is granted and the mortgage documents are signed and everything proceeds.

In regards to the ratification of the last issue, I haven't talked to BJ, but would be guessing that more investors are keen to put money into EVG. This provides two things:

(1) Provides insurance against any unforeseen delays with Mac Bank registering in Dom Republic. ie no further project delays as extra cash is ready to go.

(2) When Mac Bank funding is finally accessible the money will be taken out of the LL project and applied to Ecuador, thus no real dilution at the LL project level for EVG investors, and providing that Ecuador ends up as a viable working project then it will merely advance that project all the more quickly.

Cheers
John