Our sales is 20+mil (was I think 23+before it was revised). But in actual fact if you don't do any thing like exploration, pay the directors and stuff etc, the income would be much higher, probably 13-15 mil.
So if someone has got the money, they can probably buy all the shares at 5oc today (mkt cap is only 41 mil this morning). Get rid of the board and keep just the maintenance stuff. Get rid of the debt 13+mil, then in 5 years, you'd have got your outlay back. This is only a PE of 5. But wait on, after you got your cap back, you are still producing, probably a bit less by then, however, you still have your 30 mil gold plated plant. So where are the takers?
Please correct me if I am wrong somewhere along the line.
Is EGO asleep or is there a surprise still up the sleeve?
KKW
EGO Price at posting:
34.0¢ Sentiment: Sell Disclosure: Held
