(1) Being done at premium to current SP and the Options are well out of the money at present.
(2) The project fundamentals for LL haven't changed. The capital raisings are to keep the project on track until the Mac Bank money can be accessed in a few weeks time (or there abouts).
Once the Mac Bank money is accessible then the advances from EVG to the LL project are recouped back to EVG and can then be applied to the Ecuadorian project.
EVG, to earn a 65% stake in the Ecuadorian project (possibly +1m oz), need to contribute USD $6.5m... add up the capital raisings to date and you get approximately $6.5m ... thus think more in terms of these capital raisings to eventually be applied to Ecuador to earn a share of a potential 1m oz deposit.
Cheers John
EVG Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
