Just as importantly the price of silver used in the profit forecast was US$11.25 and now it's $16.75. Forecast extraction over 6.5 years is 434000oz Au and 3966000 oz Ag. That's an extra $6.7m in revenue @1000 for Au and about $3.4m for Ag @16.75. Nearly US$10m in revenue per year extra at today's prices. Sovreign risk is the only problem if the prices keep going up as there is no drilling or mining involved so the profit keeps rising as all other costs are stable.
EVG Price at posting:
8.5¢ Sentiment: None Disclosure: Held
