RE: RE: RE: RE: Drill Gods Smile on Evolving GoldShilohap,
Not a slam, just a recitation of the things that make being long Evolving Gold -- and I am -- so frustrating. It was heavy on the sarcasm, but also true.
Be careful not to give EVG a pass due to "market conditions."
Silver Quest is doing well in these "market conditions." Kimber Resources, while it has backed off its runaway high, is nowhere near a 52-week low in these "market conditions." There are many, many other juniors who are not scraping along the bottom in these "market conditions."
Evolving Gold has to learn the art of under-promising and over-delivering. Instead, we get the ridiculously optimistic timetables that the company sets, then doesn't meet. Over-promising and under-delivering is the exactly wrong approach.
It's not only the joint-venture with AEM that Evolving Gold keeps setting timetables to announce the details, then can't deliver. It's also the promise to have the Rattlesnake Hills shallow resource estimate out by the end of this quarter (this month) and that now has been pushed to next year, with the blame on Agnico Eagle. OK, fine, the partner wants a more complete drilling picture, but why oh why did Evolving Gold sit on this news for so long? It was not announced in timely fashion. Mistake after mistake after mistake, all by the choice of the Evolving Gold management. IT DIDN'T HAVE TO BE THIS WAY.
This doesn't totally sour those of us who already hold the stock, but it does give pause about adding. More importantly, if a potential stock purchaser not already in this one looks at the EVG charts, they stink technically. It's near the 52-week low and below all the pertinent moving averages.
OK, so let's look at the fundamentals. Drill results of late have been good, but not stellar. But what about all these promised release dates for information that are not met? This makes the company look like a gang that can't shoot straight.
Add that bit of fundamental analysis along with the poor technicals, and only a bottom-fisher, or extreme contrary investor, buys this stock now in any quantity. That hurts all of us. It already has and it continues to do so.
We deserve better from this company. The sooner, the better. How can anyone be satisfied with the performance of Evolving Gold?