RE:RE:RE:RE:Gold hits $1117 today and now all we need is the permits andBrendanC, who will buy EGX if it doesn't have even exploration permit.
The Exploration permit is specific to CONDORMING. Thats why they changed the name, to allow for another application. A Company only get (I believe) 18 months to explore until they have to move into the exploitation. Meaning... they can look for 18 months then they need to start producing/mining. We havent finished exploring so we either have to go through costly paperwork to explore more or do as we did and change our name to continue exploration. It would have no bearing on another company as they would just need to apply to explore as we did when EGX bought the land.
If other company has to start from the scratch, then why they will purchase EGX?
EGX is certainly not the first exploration company drill this soil. Condorming has been explored in the past as far back to the mid 90's. If DELLER decides to sell the company to another explorer, which is exactly what is happening in other regions, the he certainly can. Ecuadorian Gov't are bidding land off to the countries citizens to explore for Gold and Copper... Some of the sites for as much as $15,000,000 just for rights to explore. Deller could sell the company if he wanted for rights to explore for pennies on the dollar. Deller has invested $30,000,000 of his own money into EGX... hes no further ahead with gold price now than he was 3 years ago. If he cold sell rights to explore for $20,000,000 to cut his loses, I cant say as I would blame him. Thast 4x the value we are at right now.
This is just opinion... He may think gold is going to $1500/oz and want to hold onto it. He may also want to look for higher grades... Do your DD..
GLTA
B