PeaceAKKI many thanks for pointing this one out to me on the General thread
I have been picking up the EVGOs over the past couple of days.
Useful buying today, seems both heads and options are being accumulated on any minor intr-day weakness.
As long as the management keeps up its quality reporting information to shareholders I have a feeling this one will run a good deal higher between now and Christmas.
The fact that Macquarrie Bank has come up with $37.5mn for mine development to be repaid by a 3% off take on gold sales means that there is little chance of further dilution as we move towards production.
Nice to see a speccy explorer using bank financing collaterised against forward production.
As Macquarrie's analysts obviously gave the company a thumbs up for this to happen it is good enough for me.
On NPV (back of the envelope style calculations) I could justify a price north of 30c for EVG at the moment so to buy the options at the current price is a no brainer for me.
I would also possibly be a buyer of more EVGOs if we got any short term weakness but I think this will be unlikely.
Be happy
EB
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