RE: Share PriceI believe the share price reflects the problems that EV is facing.
They had $50K in cash as of April 30th Financials.
They sold $260K of gold in quarter 2 as per the news release
They did another PP for $240K as per the news release.
They had expenses of $177K for 3 months ended April 30th.
With the same burn rate, the spent $175K for May/June/July
By the end of Oct they will spend another $175K for Aug/Sep/Oct.
That is $350K spent to the end of Oct and cash available of $550K.
That leaves them with another 3 months or so of cash before they need to do another PP...Look at the share price and figure out how many shares they will need to issue to raise another $240K.
That is 12 million at 2 cents or 9.6 million at 2.5 cents...plus of course warrants. I lost count of how many shares are outstanding now, but I know they would have to find an great deal of gold to bring the share price up with the number of shares outstanding currently.
If they are out of cash and the share price is 2 cents, I do not think there is any option other than a share rollback. All the juniors have similar charts, but if you are not well funded, I do not believe you will be able to wait out the market.
I continue to hold some shares as they are not worth selling now, but Tim needs to work some magic very soon...