RE: tailors boysI know its frustrating to watch this one drift down, but until we see good drill results, we will not move up much from here. Potential JV partner for Carolina or positive Serbia news might help too. Here is what Jay Taylor wrote last year on EV. He likes EV, but did not want to wait .
Erin Ventures (TSX-EV-$0.12) – We have already enjoyed more than a double in this stock so you would be fully justified in selling at least half and redeploying those funds elsewhere. I say that especially in view of a recent report from a field visit by an independent geologist in Belize. While near-term hope for wealth creation for EV shareholders may be more likely to come from Belize than from the company’s property in North Carolina, a recent report following an independent geologist visit to the company’s Ceibo Chico property suggests to you editor that there is no hurry to buy this stock at this time because there is still considerably more preliminary work that needs to be carried out before any serious drilling takes place. While a systematic approach to exploring and developing the project will serve shareholders well over the longer term, it is drill results that drive equity prices in this sector. Of course if placer gold production increases to a meaningful degree and positive cash flows are generated in the process that could bolster Erin’s price in the shorter term. As far as North Caroline is concerned, we see that project as a long shot and one that will require considerable exploration expense which could lead to substantial shareholder dilution. For now, we have chosen to sell this stock holding open the possibility of re-entering it depending on how it looks following this years’ exploration program.