Latin America has significant country risk, with Venezuela being the worst I suppose. A good decision in the circumstances not to put any more money and time into the Venezuelan project.
I expect the share price will drop back down under 9 cents, maybe back to around 8.5 cents.
I am not sure if I will stay in EVG - depends on what I find elsewhere.
I am sticking with both MDL and NGF. MDL has still got growth potential and will head to over $1.50 next year. Their mineral sands project is also highly attractive. I am looking for a dividend stream from it in due course. NGF (despite its high costs) is worth a lot more than its current 30 cents in the medium term (expect it to be over 60 cents next year), and over a $1 in the long term (AUD POG willing) once the hedge is cleared.
EVG clearly has potential, but it is going to be a long slog getting high multiples out of this one. I hope the management has the energy and skill to manage several smallish operations in different countries concurrently.
Good luck.
loki
EVG Price at posting:
9.2¢ Sentiment: LT Buy Disclosure: Held
