Spot on mate although the EVN boys won't be flying over for a visit anytime soon.
I believe they are currently touring their Red River mine in Canada.
MGV/GCY package deal!
What number gets it over the line?
I'll have a stab and say 450 million should get it done.
250 million GCY (58c), 200 million MGV (37c)
Blending MGV's high grade 10gt ore with NN and Gilbeys baseload could get that Head Grade over 5gt. That would be over 700,000 ounces in 2 years at a very tidy profit margin of above $800 per ounce (AISC$1,700), payback for EVN would be way less than 2 years.
All I think EVN are waiting on is Anthony Buckingham releasing the update MRE and project economics.
Most of the mid and larger cap miners would want to see this to help them perform a more accurate due diligence process before handing over the cash/scrip.
There's been too many companies taken over lately with optimistically graded MRE's that have disappointed once they've gone into production (Tampia and Dargues are just 2 recent examples).
The talk of MGV building their own plant is bullshit.
To build the plant, I worked out MGV would need to find over 400,000 oz more in resource just to hit the industry standard minimum of 1million oz in reserve (10 years at 100,000oz).
Thats assuming their current resource is converted to reserve at a 70% ratio.
That's a stretch considering over half MGV's resource is in the inferred category.
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