RE:RE:RE:All this silence could mean a Buy Out since they're... Firstly, We are still waiting for approval for our new permit to continue exploration. As I stated previously, our permit under "Condorming", expired. It is very costly to request another permit under the same company name so EGX changed the name to assist in the permit process. They may have already gotten the approval and have been working on the NR. The next NR we see SHOULD be to let us know we got approval. It should also help with the SP hitting .03. It shows we have another 2 years to go ahead and find more RSS while working to get better recovery of our Low Grade.
Secondly, it is entirly possible to have a buyout at .30, especially with the Canadian dollar losing tread and the value of the U.S (noon). The company has proven over $10 billion dollars in low grade RSS alone. Sale value has no basis on what the company value is right now. If EGX found high grade tomorrow worth $5 billion dollars, they certainly will not be selling EGX for .10. Not when it is valued at over $2.00. A sale of even .30 Canadian would be the equivalant of .20 U.S. which is a value of $51,000,000 or so. I dont think it will happen but wouldnt be surprised if it did. Right now is a buyers market much like the housing industry. Thats why Buffet is in on Suncor and are buying up everything they can while they can. EGX would be a good investment for anyone looking to continuing exploration. Another note is that with that low startup cost, a mining company could save hundreds of millions to get setup in the country and therefore have a better rate of return.
Again, I dont forsee it but it is completely plausable.
GLTA
B