"EnviroGold expects the Las Lagunas project to produce 65,000 oz Au and 600,000 oz Ag per year for 6.5 years from early 2011 at a production cost of US$330 per oz Au. The project life could be extended by accessing numerous refractory gold deposits within economic transport distance of Las Lagunas, which are individually too small to justify a stand alone process plant.
EnviroGold will receive management fees equal to 2.5% of project bullion sales which are expected to total around US$450 million at current gold and silver prices."
Apologies in advance I have a real doofus question here: EVG gets the management fee of 2.5%, but who gets the proceeds of the bullion sales? Please don't beat me up - I have just read the last few announcements and I'm not up to speed yet, cheers.
EVG Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held
