RE:Why is the PEA going to be good? and Why sudden Buy outI assume your directing those at me? All good questions!!
We don't know the PEA is going to be good. What we do know is... We know what resources we have in the ground and their extration rate. We know the price of fuel in Ecuador. We know that it is low cost open pit style mine. We know the new tax rate is low(er) and comparable to other countires. We know gold is on the rise and doesnt appear to be slowing down.
The share price isnt reflecting right now becuase it is not complete or has been complete and no NR yet. We gained ++.04-.05 leading up to its release last May, so we should see similar gains now, as the PEA release is set in stone and we've all done our homework. Unless, its the boy who cried wolf scenario, we should start to see more buying and penny flippers in the days to come. Starting today maybe?
We dont know a buyout is imminent. We know China has strong ties to Ecuador and China wants ecuadorian gold. China is in need of Copper and Gold. We just happen to have one of the proven largest deposits of both minerals within the Country. We know Glenn has already shopped EGX around and got low offers. This was before the PEA release, MET work and tax law changes. Junior exploration companies do just that, explore. While they may have JV with small mining companies in Ecuador, the main goal of any junior exploration is the sale to bigger guys. Also, we know EGX has no money. This is why the PP for Aura and the offering to us at .05. They needed to pay off debt. While another JV company might flip the bill for mining, can EGX go likely 2 years to start making money? Does Aura want a return on their millions of dollars invested in EGX? It just doesnt fit for EGX to mine Condor. Glenn said, he wouldnt accept another offer until the PEA was in his hand. Which is coming this week. He didnt say he was making a decision as to mine or go with the sale. He said he was not going to acccept another offer until.
Glenn knows we're pi$$ed that we havent gotten a PEA. It was completely random for them to state in the last NR that the PEA would be complete by the end of January. I think it was purposly stated in the NR to let us know that it is finalized and going to be released. They did not have to state that it was going to be comlete at all. They could have simply said "Q1 2015". Instead, "coomplete by the end of January".
No one "knows" what Glenn and the gang are going to do. I think we wont know until Glenn sees the PEA. We do know how much value we have and that its going to be mined. By who???
As I always state... Do your own DD and dont hang your hat on my research and DD.
Hope this helps Solid. Cheers !!