This is a great outcome and highlights the value of the historic...

This is a great outcome and highlights the value of the historic Rothsay deposit to EGA. Looking at 5 year LOM & 200k oz produced (approx 40k oz p.a) at an AISC of $1020.  Funding requirement at $34 mill, with 15% contingency and significant working capital component ($9mill).

NPV (8%) $58mill @$1600 gold price.
IRR 57%
Payback 23 months
First pour target = Mid 2018 (i.e just over 12 months away)

All with significant exploration upside over next 12 months at MC approx. $16mill, tight capital structure and smart management team.