price action, page-8

Great posts loki/Saber.

I keep a close eye on EVR as for me, management have shown that they are willing to make hard decisions that may frustrate those with short term views but reward the long term holders through diversification as well as critical mass. Plans to be a 400k + producer by 2014 is a goal that I feel PRU cannot reach without some kind of acquisition (IMHO).

It surprises me a little that PRU is held in such high regard, yet EVR is all but forgotten. EVRs total costs are at least %15-%20 lower than PRU, they have a larger production profile with higher grades. On current figures, with both PRU and EVR market caps being very similar, with production numbers the main difference, EVR already 300k +, while PRU stuck around 250k max until their next mine is built which is looking like it will take a while due to a changing tax regime.

The negatives for EVR (other than those mentioned by Loki), there is still 110k ounces hedged at $1061 (the hedge is variable out to 2016).
They have $100 million debt (the caveat, is that their cash covers that)
Their mines are in 4 different countries which both spreads risk while ensuring they are faced with more chances of it.

I think if there is another pull back in the EVR SP, I will enter.

Further consolidation is a must if many of the exploration stocks in Western Africa are to survive, the question is which stocks have rational and realistic management and which have stubborn, selfish and the 'reward them selves first' mentality.