Go down to 8.5c from 10c?? Based on news that one of its...

Go down to 8.5c from 10c?? Based on news that one of its riskiest ventures, which many investors were uncomfortable with in the first place, is not going ahead past initial/scoping stages?? I would be extremely surprised if this was the case.

Don't think it's going to be a long slog to better valuations either. The company's flagship project is the Las Laguna project, which is still going well. The company looks quite undervalued based on this project alone, with the other projects being nice additional bonuses.

There's plenty of catalysts/newsflow to be expected throughout 2010 too which should help drive rerating. We've got ongoing construction and planned sales to begin in Feb 2010 - and BJ is planning to lock in 5 years worth of forward sale contracts, so these should hopefully be announced as they are signed.

I would expect all these things to have much more influence over the share price over the next few months, and doubt investors will fret much that the venezuelan project didn't go past the scoping phase (I for one am glad that the project set now looks de-risked - a huge chunk of country risk has now been taken out of EVG).