I'm out! EGX is GarbageSold my stake in EGX. Here's why.
1) IR just told me the big Miners are unable to buy EGX due to Ecuador's mining regulations. Only small operations can move in.
2) Glenn is also running other companies. Total compensation plan per year from EGX is $520,000. Not bad for a part time job. Why would he even want to sell the business when he can keep riding the break and take that fat salary.
3) The Chinapintza project has some kind of delay in their plan for December drilling. They're unable at this time to get a permit, so instead they are using the small amount of drilling allowed in their exploration permit to start "producing". From what I understand this isn't even enough to stop dilution when salaries need to be paid next year.
4) EGX bought this land from previous exploration company (apprarently it's been passed around) who know couldn't do anything with it. Ever wonder why Glenn was able to get it so cheap?
Been lied to enough by this company and their reps.