As I see it LL is fully funded and no further EVG capital will be required for this project - development costs to date from EVG and the money provided by Mac Bank will get this across the line (provided no commissioning issues as plough and cy7 have talked about).
In conjunction with the recent cap raising ($3.6 mill) for drilling holes in Ecuador I would imagine that the 9-10 mill raised from this institutional investor will be to fast track exploration and development of Ecuador or alternatively to accelerate the purchase and consolidation of the numerous small mines in Peru to facilitate the building of another Albion plant there.
Either way, I think with macro sentiment the way it is with gold BJ is trying to turn EVG into a multi-source producer asap and I think if there is any way to accelerate the second project he will take it.
I would be surprised if at the LL project there are incentives for the contractors to complete the plant ahead of schedule to.
Cheers John
EVG Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
