RE: Big Board listing neededI emailed the company in October, and asked about a TSX listing. Here is the response:
Hello ------,
Thank you for your email and your continued support in the Company. Sunny is still with us, I work with him on Investor Relations.
To answer your question, you bring up a valid point in that the value and the costs associated with graduating to the TSX will enhance EGD’s exposure in the retail and institutional environment. The issue we face is the reporting periods, and the main reason is because we have over 119 mineral drilling rigs (now over 234 in total) in sparsely located in over 23 countries worldwide, and some of these countries require longer lead times for getting the information we need in order to report on time for TSX requirements. Retrieving information from a rig located in the Kivu state of the DRC is much more difficult than a rig in Mexico., the logistical infrastructure is just much different and our auditors need to verify our inventory in these areas.
We have developed a standard model of counting for inventory, but auditors always come up with new requirements that change the nature of how we account for inventory which is also a lag. This is why we remain on the TSX Venture, however, we are reaching our goal of reporting within TSX standards and I believe we will be very close in the first half of 2012 once our reporting from our recent acquisitions is streamlined as well. We are in a point in the company’s growth that these issues are being addressed and we are getting much better at resolving them.
I hope this answers your questions, -----.
Kind Regards,
Meghan Brush
Investor Relations Associate
Energold Drilling Corp. (EGD:TSX-V)
1100-543 Granville Street
Vancouver, BC
V6C 1X8
Ph: 604 681 9501 ext 116
Fax: 604 681 6813
Email: mbrush@energold.com
www.energold.com
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So perhaps in 2012 sometime....
GL all