It is pure fantasy to think that EGA can build a plant for $36.1 million and even more fantasy to think they can operate for $1083 asic per ounce.
The last set of nut jobs who predicted these kind of numbers were GCY and they are now in administration. The cost of their plant blew out from $80 million to above $100 million.
Blk and Dcn are two others who over promised and under delivered.
RMS had to downgrade the reserve of the company they took over.
Ive never seen a tidiler meet expectations.
EGAs reserve isn’t big enough to justify a stand alone plant. It will continue to dilute and nothing else.
Its much better off off being in a larger outfit like SLR
who has cash, a mill and a positive cash flow.
GLTA/IMHO
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