I’ll take that back about Shit Lake not being up for sale in the mid term. If EVN will be mining less ounces to reduce capital expenditure and they manage to get to cash flow positive, the positive cash flow will be miniscal going forward. Shit Lake will become a low ounce gold producer going forward and it will not fit into EVN’s portfolio criteria. I wouldn’t be surprised if Red Lake is up for sale to a minnow Canadian producer some time in 2026. Doubt they would get A$200 million. Could be less than $100 million, depending on the margins going forward for the next 2 years.
Total costs to shareholders including selling Shit Lake would be around $1.5 billion.
Divide that financial loss by 3 billion shares on issue that sits around $0.50 for every share on issue.
it will be slight less as the actual number of shares on issue is around 3.15 billion.
Imagine getting.50 cents a share as a special dividend if EVN were to sell Red Lake for a break even $1.5 billion dollars!!
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