EGX is so undervalued! and in near future we ALL will get a huge premium! There is a reason Aura investments from Ecudaour KEEPS FUNDING EGX! they know $$$ will be coming buyout imo

In 2009, Kinross paid $1.2 billion or $8.20 per share for junior explorer Aurelian Resources, which owned the Fruta del Norte deposit. but do to govt tax they abonded the property! BUT new mining laws passed weeks later!
EGX is south of this deposit with more gold and silver!

Kinross called FDN “one of the most exciting gold discoveries of the past 15 years.” As of year-end 2012, FDN had 6.715 million ounces of gold in proven and probable reserves, as well as 67,000 ounces of measured and indicated gold resources. Proven and probable silver resources including 9 million ounces of silver with measured and indicated resources totaling 1.412 million ounces of silver.The mining law backed by President Rafael Correa to make Ecuador more attractive for investors passed the senate with 105 in favour and only 14 against.

The mining law, which will set royalty minimums and ease red tape, is designed to spur exploration in a country that is reckoned to have reserves estimated at $115 billion.

The law favours small- and medium-sized miners. According to Reuters, there will be a 3% royalty for small mines while large-scale mines will get a minimum 5% royalty.

Codelco, the world’s largest copper producer, is the runner up for taking over Kinross Gold’s (TSX:K, NYSE:KGC) Fruta del Norte project, the largest gold deposit in Ecuador,

QUITO, June 13 (Reuters) - Ecuador's lawmakers on Thursday approved a mining law that should speed the development of small and medium-size ventures, only days after Canada's Kinross canceled a massive $1.2 billion gold project in the country over a tax dispute.
The law makes it very attractive to invest in small and medium-size projects in Ecuador. .

The law seeks to ease investment terms by delaying the coming into force of the windfall tax until miners recover their investments. It also sets a ceiling on mining royalties of 8 percent for exports of gold, copper and silver.

It states that small-size mines will have to pay 3 percent in royalties, compared with 4 percent for medium-size and a minimum of 5 percent for large-scale mines.

Meanwhile, small and medium-size miners can push ahead with their projects signing more flexible "concession" deals, instead of having to negotiate exploitation contracts with the government.

The law also seeks to eliminate red tape so that investors can push ahead faster with their projects.

It calls for tougher penalties on illegal miners and it tightens environmental protection rules.