RE:RE:RE:RE:RE:Gold about $1200 tonight hovering around $1207Agreed... When your comparing companies... you should use companies similar to EGX!!!! Firstly, there are none as they likely went under and folded up shop due to lack of funding as most exploration companies have. Our head might be barely above water but I think DELLER is the lifering keeping us from drowning till the market recovers, as it now is.
One thing you guys arent taking into consideration is the outllok on oil and gold. Gold is and always was to recover due to the supply and demand. We had a dip as the U.S dollar recovered some but is really just an act of smoke and mirrors that is coming to light now. They are hurting just as well are.
Secondly, your not looking at the big picture here. This doesnt solely rest on Gold prices... Look at oil right now. For those that have not done your DD as of late, the PEA was based on a consumables oil price in Ecuador where Diesel was $1.14/L US. With an 18% overall cost of the $826,000,000 total mine cost representing $270,000,000. Then.
Oil not sits 60% lower on world markets and 80% lower in Ecuador. The cost of Diesel in Ecuador now is .25/L U.S. So the initial $270,000,000 cost now sits at about $54,000,000, Now do the PEA and the total costs in about just over $600,000,000. The Return Rate is going to be a lot more and a lot sooner.
Do your own DD and actually work the numbers out yourself. Im not relying on lunch money to make me a profit here... Given these low volumes and loss of .005...lol Im not worried about someone who cashed in there $100 or $500... lol. Real buyers, the chinese, do work out numbers.
Do your own DD.
B