I was just rereading the Buscore Azuay report and I am a little confused as to the ownership.
EVG Azuay is a holding company being setup to take full control of the Papercorp and Pinglio(P&P) mines.
That holding will be divided 65% to EVG (Latin America) and 35% to the current owners of P&P.
EVG (Australia) will transfer/commit to spend $6.5m on EVG Azuay as part of the deal to secure our 65%?
The company EVG Azuay has a current total value of $10m; $6.5m which represents our (EVG Australia) stake and investment and $3.5m which represents the mines owners (who get it for "free" as they currently hold the mine licence/title)
EVG(Australia) owns 100% of EVG(Latin America).
Is this correct or have I twisted something?
Have they have not made a clerical error and are actually hunting 10-12g/t in 4m tonnes for 1moz+ and not 1.0 to 1.2-g/t for 100,000oz+?
SF
EVG Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
