I agree with your long term hold, especially given the recent announcement re the delay in project finance, which is reasonable given the reduction in IPO volume (as per miningnews.net today), however disagree with the play money comment.
The way I look at it is, accumulate over the next 12 to 18 months, ensuring that when EVG comes on-line in the following 12 to 18 months, the combination of a "cash producing" operation and Peruvian projects currently being lined up, the company will provide its own finance for the Peru projects and generate a double step in the share price.
If you want to see a classic double step, check out the 12 month chart for ASX code LNC.
Providing no other "global credit crunch" style of events occur this will be a $1 share in three to four years and when you break it down you'd be buying at a maximum average price of 12c over the next 18 months equating to a simple interest return of 208% per year for the last 4 years i.e. (($1/$0.12)/4)... that is of course if you're willing to take the risk!!!
See you on the other side.
Cheers
EVG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
