This time last year Las Lagunas was supposed to be up and running by Dec 2008.
But that is what could have or should have happened.
Las Lagunas itself seems to still be an exciting and very viable project.
In 12 months ---- and I don’t know who is at fault --- they have managed to make a meal of both the Project Funding and the Engineering and now the final icing on the cake is to have a Legal case pending.
Then on top of that – an escalation of the capital costs.
I’m pretty much locked in, so I can complain all I want, but it won’t change my position.
One saving grace may be the location of there leases --- it is apparently quite close to the 13 million ounce Barrick/Gold Corp mine --- so they have location, and they have the Reserve.
Market depth is a shocker – we are on a wing and a prayer.
Anyway a happy Xmas to all --- it is difficult to have the opportunity of making serious money without having the downside of losing serious money.
EVG Price at posting:
4.0¢ Sentiment: None Disclosure: Held
