Yep. We still have a resource upgrade to come from all the drilling done in the southern section. We could pick up >50K oz greater from this to add to the current MRE.
Sure EGA is a smallish mine, but it is high grade if you consider what comes out of the ore sorter. There are no major metallurgy issues to worry about either.
50K oz of production at an ASIC of $1100 is $32.5 million a year profit and there is still plenty of room based on the latest drill result for the ASIC to go down and the production rate to go up. This is why I am sticking around with the unloved EGA.
EGA Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held