Optimism vs reality It's great to see optimism regarding EVG, considering the pain it's inflicted on its shareholders over the past year and change.
Just a few comments:
1) It still seems like management is pushing out the timetable for a meaningful resource estimate, which first was promised in the first quarter of 2011 for Rattlesnake Hills. Then it was said that Agnico Eagle wanted to include another year of drilling, which would have meant first quarter 2012. But now that seems to be gone and we are left with anticipation of somewhere out in the future. An email I received from IR man Rory Quinn indicates no firm date has been set by either EVG or Agnico-Eagle.
2) Doing an estimate with drill results to date, which even our EVG QP says in this updated technical report likely would yield only inferred results -- the lowest category -- is not a whole lot better than Todd Hoffman of the "Gold Rush" television show surveying the landscape and pointing to a nearby patch of permafrost and proclaiming, "Let's dig over there." It's my understanding that only indicated and measured reserves really count with investors and/or would-be takeover companies.
3) Why didn't EVG put out a news release to trumpet this latest technical report that got all of you so excited? Or why isn't it prominently displayed on the EVG home page, but rather buried under the "our properties" tab? It's almost as if the company was trying to keep it low-visibility for some reason.
4) Reporting some favorable drill results from Nevada isn't necessarily going to carry this share price through the spring and summer months. San Gold recently announced very good drill results, and the stock has been declining since. It's that kind of stock market currently.
So, how about some opinions?
What's the likely share price three months out? Six months? A year?
What are the odds we will have a meaningful 43-101 resource estimate before this time in 2013 (measured and indicated)?
When will insiders start buying significant quantities of shares in the open market of this depressed stock with great prospects? If they don't, why not?
Thanks in advance for any feedback.