b sands

In March I submitted a post "Three things that will change EGO"

In summary they were

1. Wharf in or out

2. Perforation of the B Sands and reserve determination

3. Payback of Alcoa’s funding.

Well the new board of EGO have dealt with the first. This week they are preparing for the perforation of B sands which will take place next week.

I hope the B sands flow and over the next year we can pay Alcoa of in full.

In the back of my mind I have always been of the opinion that CM's 140 million options expiring in Nov 14 have been a factor.

Perforating the B Sands is like drilling a 10 million dollar well for 1 million with a much better chance of success.

Cheers and good luck,

Simonmag