zumplums earlier posts re: the Agnico JVMay 9, 2011 02:50pm:
Good news; Rattlesnake goes forward and EVG gets their exploration money back plus an investment of 23 million and keeps a chunk of Rattlesnake with further exploration funded.
Really like the fact the Quinton and EVG can go forward doing what they do best, finding gold. Jake Creek drilling should be under by now. Would not be surprised for Quinton to hit some very high grades.
The stagnation is over.
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May 9, 2011 04:28pm:
Look at Midway's deal with Barrick pretty darned similar.
EVG was up against the costs of drilling all their projects with the possibility of more dilution. This was a very good solution. EVG now potentially 30% of Rattlesnake and 50% of Kiyuk without having to finance them. They came up with a solution and are well financed to go forward with Jake Creek-Carlin-Humboldt-and Boulder Valley.
Kudos to management for keeping the ball rolling and the drills turning. Resources and manpower are now concentrated in the Northeast region of Nevada saving time and money. Ya can't have it all all at once. EVG is laying a good foundation for building up the company.
Watch for those Jake Creek drill results.
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May 9, 2011, 09:09pm
EVG didn't even have a defined resources yet at Rattlesnake and feasibility studies are very expensive. The bottom line is that if EVG hadn't hit at Carlin and Jake Creek they likely would have pursued Rattlesnake further. But, it was a choice caused by a wealth of discoveries. You can complain about not partnering Rattlesnake for a higher percentage, but then you might find fault in anything.
Mineable gold deposits are very rare. Whether Rattlesnake is economic or not is still in question as are all of EVG's discoveries. It's all risky business. Success is elusive so you balance the options; EVG chose to spread the risk while still maintaining control over 2/3's of their discoveries--a luxury and smart.
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