EVG 0.00% 3.1¢ evion group nl

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

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. JID
    3,568 Posts.
    lightbulb Created with Sketch. 663
    re: Ann: Further Delays to Financing Las Lagu... Hi Guys,

    I talked to BJ earlier today and can only reiterate what the ASX announcement clearly portrayed in its tone;

    BJ is very frustrated with the financing delays and with our JV partner being obstinate - basically, trying to become a big enough problem to get bought out.

    I have stumped up a lot of cash for EVG to assist their working capital (subject of today's shareholder vote) and I only did so after meeting with BJ and his Australian based team.

    I was very impressed with their competence and efficiency. Along with the attractive LL and Ecuadorian project numbers I decided to invest.

    I fully appreciate how frustrated long term holders must be.

    However, I have utmost confidence that BJ will steer EVG through this most frustrating period in the life of the company and we will eventually emerge as a profitable gold producer.

    Whilst investors must look at the (1) downside risk and (2) the opportunity cost of holding a struggling minnow I would think twice before selling shares into this most recent news.

    (1) The NPV of LL alone is now +4 times the market cap of EVG. EVG has, to date spent >USD$30m on the project and has a market cap of approximately AUD $25m. It is highly likely, with the POG/ POS where they are at present, that in an absolute worst case scenario the project can be sold for 25c in the NPV $1 (ie for around EVG's current market cap)... so IMO, there is very little absolute downside left.

    (2) Other investments may seem attractive at present and the EVG investment a poor comparative investment. However, I think that a series of de-risking events will progressively occur over the next several months that will gradually re-rate the company.. after sitting through all the pain it would be sad to miss the boat by only a few months.

    IMO, EVG could well be 3 - 4 times its current SP/ MC price within 36 months.

    Anyway... good luck all, but I can say that BJ and his team are working their arses off for us and I think they will come through in the end... what other MD do you know that in a cash flow crisis (1) works without taking a cash wage and (2) stumps up millions of his own money unsecured and interest free.

    cheers
    John
 
watchlist Created with Sketch. Add EVG (ASX) to my watchlist
(20min delay)
Last
3.1¢
Change
0.000(0.00%)
Mkt cap ! $7.980M
Open High Low Value Volume
3.3¢ 3.3¢ 3.1¢ $3.403K 107.3K

Buyers (Bids)

No. Vol. Price($)
1 38595 3.1¢
 

Sellers (Offers)

Price($) Vol. No.
3.3¢ 40000 1
Last trade - 15.08pm 29/11/2024 (20 minute delay) ?
EVG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.