news out, page-5

Gday JID,

well thanks for making it harder for the rest of us to buy more cheaply :(

doing the washing up tonight just cost me $4500. I might try explaining this to the wife as justification for avoiding future endeavours into the sink (2xentendre), but I doubt she would care.

whats that rule about timing is everything :) these are for the long term so time to set and forget.

I am pretty impressed by EVG thus far. what impresses me most is that beyond production, they will not likely be directing their revenues back to holders, rather they should have opportunities to further create wealth. a real wealth layer cake.

no counting of the chickens from me yet, but excited by the prospectivity. I might even consider doing an investor/analyst tour of ecuador and dominican republic mid next year to escape the harsh aussie winter, thats if this bj guy would consider such a thing :)

so is a sample of 867 grams per tonne good bad or indifferent :)


Phased Extraction possible???
It would appear evident that EVG and partners in azuay maybe have an option to commence mining the deposit and generating income for the simple processing options first and storing the tailings for similar processing to those in DR.

Then, as the project develops and is cash flow positive, money can be reinvested in additional infrastructure to process the finer gold. This might have the effect of reducing up front capital risks and enhance the likely success of the project. I guess I make this point, as the scoping study considers a debt proposal to fund development. It may be that EVG doesnt need to push this barrow and expose itself, rather it can concentrate on wrapping up its extant obligations and kick off a second income stream with minimal risk. Looks interesting.

Reviewing the capital budget, confirms my above thoughts with some big ticket items associtaed with the 25% extracable resource. Why would they not pick at the low hanging fruit?

That Gaby deposit, adjacent to our San Gerado, of 9.7mOz M+I+I looks pretty interesting. It would be more interesting to know how far to production.




SF