Otis, my manFellow EVG shareholders,
As we await the details of the Agnico-Eagle (USA) joint venture for Rattlesnake Hills, I can only hope the news can do for this stock what lesser news did for another junior I own.
Otis Gold today announced approval from the U.S. Forestry Service to BEGIN a drill program in Idaho. No results, just to start turning drills. The result? A stock that closed at .45 (US) yesterday, was as high as .54 today and closed at .52.
It's only .07 of upside, but it's a big one-day percentage move for a .45 stock. Even more to the point, it is not news of the magnitude EVG has been releasing, to an ever-declining stock price. Yet the Otis share price responded. By the way, it's a share price that has been halved for all intents and purposes from .84 over the past 52 weeks. So, even a downtrodden stock can and should respond to good news.
Time is running out on the new deadline for Agnico details (changed from the original June 1 to June 17).
Hope for something positive and, more importantly, something that is perceived as positive by would-be EVG stock purchasers.