RE: RE: Release the Hounds!
How I think doesn't add $40 million plus of market cap in one session ... although it seems but a fraction of what has eroded away in the past few months of fear and loathing.
One can suppose that any shorts have been smoked out of their dark corners by the fear of some tagalong action to IVN and RioT's control wrestling over OT. That has to be the case with IVN's big move today ... the prospects of a bidding war for new or old IVN equity and control of a big chunk of the OT project has to have the rats closing out any short trades.
Even better, maybe the thought that some more pragmatic valuation discussion between IVN and RioT and any bidders for a chunk of the OT project will begin to point out both the upside NPV values in speeding-up the mining of the JV ground at one or both of Heruga or Hugo North, but particularly Hugo North where the ore grades are the best along the whole OT trend to date, and (I repeat myself for the umpteeth time) drilling and resource calculations are frozen at the extent of exploration as at November 2006 at the 625m mark N of the JV line. Wee ETG holding a 20% carried interest in both ends of the OT weenie with a present market cap in the invisible part of the light spectrum can't be irrelevant to somebody wanting to be dealt into the action.
In addition: IVN is lateral drifting and perhaps drilling their way north as well from Shaft 1. There are holes pending on the Heruga offset anomaly indicated by last year's Zeus survey. A new Zeus survey of Hugo North extension was commenced in April this year (by RF's son Govind's GoviEx no less - "Gee Pop, really interesting day at the office today, you should see the ... uh, pass the potatoes please, urp ... results we are getting between the last drill hole and the airport showings") And we know ETG's little 5000m preliminary drill program on the potential second trend on the 100% ground could blow ETG up into something exceptional ... that could suddenly change the dynamics. My personal best outcome fantasy ... a sweet strike right on the bornite kisser.
Under $3 ETG is a steal ... under $5 a bargain ... perhaps one of those amazing "who would of thunk?" bargains. I thunked about it alot in the past few years and I'm still thunking about it.
But this mostly looks like a paper chase move ... IVN goes into play and the market notes ETG as a piece of the pie, true value as yet unknown.
Now back to calculating just what a little float like ETG's would look like trying to swallow the market cap indicated by a new resource discovery roughly equivalent to a big chunk of the OT trend. Ahhhhhhh, maybe that's why they called it the "Entree"! Burp.
Dare to dream. My shares, in the words of the great Charlton Heston "From my cold, dead hands", unless, of course the price is right. Then we should really sit down and talk about it before anybody does anything too rash.
Because if I'm right somebody will try and pull a fast one. As is always the way. This isn't ballroom dancing here, ladies.
CG