Well the market has got really excited about this...

Well the market has got really excited about this announcement.
Mind you it is not really excited about anything at this time.

* Each with the capacity to extract approximately 75,000 ounces of gold equivalent per year (Total 150,000 ozs which is better than the originally suggested 130,000 ozs in July and October announcements of 2007)

* The plant will be constructed in two stages, with one to be wholly owned by EnviroGold and the other possibly partially owned by a Peruvian mining company, Corporation Minera San Manuel (Trujillo was initially suggested as a 50/50 joint venture in July and October announcements of 2007)

* The first plant to be developed by EnviroGold is planned for commissioning in late 2009. (Same as July 2007 announcement)

* EnviroGold is attempting to consolidate ownership of these properties and is at an advanced stage of negotiating option agreements to purchase three of the closed mines. Details of these properties and terms of the option agreements will be released as soon as they are formalised. All commercial terms have been agreed with the vendors, legal documents are in final draft, and all three agreements are expected to be signed by 31 March 2008. (This sounds like progress to me)

* Mr Johnson said the Company’s current focus, other than the construction of its 70% owned Las Lagunas Gold Project (net 56,000 ozs to EVG) in the Dominican Republic. (US$23 million term loan facility must nearly be ready to be finalized)

* Mr Johnson said that he was confident EnviroGold would achieve an attributable production of over 150,000 ounces of gold equivalent within three years from operations in the Dominican Republic and Peru, as well as having a number of other gold projects in the pipeline. (Las Lagunas completed by Feb 2008 and Trujillo stage 1 by late 2009 which is still on schedule)


Questions?

Proposed TSX listing

Shandong (China) 80% of 60/70,000 oz or 56,000 oz net to EVG by late 2010
Funding for Trujillo (which they mentioned in todays announcement – you would hope that the 94,999,996 options @ 25c before 31/12/09 would be in the money by then but this would not fit the timeline for Trujillo)




And finally to quote Fat Prophets:
Mistake #1 -
If you are not prepared to invest for a period of 3-5 years, and to ride out the inevitable ups and downs, you shouldn't be investing in the stock market at all. Period.


So with that in mind all seems okay

As I post I notice we have a buyer active --- I do still have a bid in but I would be happy enough if it is not hit.

Don’t take my writings to heart.
I know no more than the next man – maybe a little less.

Regards cy7