RE:I think I will bail on MondayMaddsion,
There has been only one person selling under "anonymous" and they have been selling since early January. It is absolutly impossible for them to have gained any information on the PEA as it is not due to be complete until the end of January. We all know your not going to bail on Monday, especially if you have been in on this play for as long as you say you have.
I have a private message from another member who was given reliable information that Glenn was in China and is now on his way to London and then the Middle East. This person was given this information by EGX's Layer, Sean O'neill. This person in invested in another company and not EGX. Now why would Glenn be travelling to China, London and the Middle East? Glenn has two plays on the go.... EGX and PXA. PXA are drilling more drill holes and are looking to sell to Newmont Mining which is American and based in Colorodo. Indonesia is surpassing China in terms of requiring Gold and Copper. There is a very good chance the PEA has been completed this week and Glenn is now meeting with clients for our sale.
Everyone who has been complaining about these "delays". The delays cannot be considered delays when they are bettering this company in order to gain a better portfolio. Last March, when I jumped on board, I followed a lot of posters much like i am now, who no longer post on these boards. They were likely mad because we didnt get the PEA then. In the realm of exploration, the only thing that matters is creating the best possible mining sites and proving up the best possible resources to show clients. The "delay" in May was due to Mit Tilkov who is the head Geologist for EGX. He suggested that the MET testing be done to improve our extration of the main resources... Copper and Gold. The testing taxes months due to the fact that they needed to go to each site, get core samples, pack them, send them to a lab and run extensive studies to get the best possible outcome for extracting EACH of the minerals from the samples. The test work was done and EGX had to pay for them. They also needed to come up with money to pay for the PEA. They raised the money through PP and more capital from "Aura". The money was paid to them and we were given a definative time, "the end of January", by the engineering firm. So, Glenn did exactly his job. He had the MET work done, which proved a better outcome for copper recovery and by increasing the CU recovery rate, added about 1 billion dollars to our resource value. Congrats to Mit and Glenn for this as they added another... .20-.30 value/SP to a buyout. Netting me about $40,000 or so for a 8 month "delay". To be honest, their job isnt to make Shareholders happy in the shortest amount of time. If they release the PEA, I would like to see them drill the double strike length and prove up another 1-2 billion lbs of Cu. Again adding another 3-4 billion dollars to the resource value. If that takes another 2-3 months and a "delay".... fine by me at another $100,000 in my pocket.
At any rate, There will likely not be a NR on the PEA completion as it costs the company money, which they dont have a lot of and would be stupid to not just wait the 2 weeks the Lawyer would need to read it over. If Glenn is in the Eastern Hemisphere, he is there for a reason. My guess is the PEA is done and he is shopping it around. If I was a chinese company and I had already made an offer but was turned down. I would think twice about turning a company like EGX away now that they have the "PEA in hand" and could gain more potential buyers. Good for Glenn!!
Good luck to all and somone should find out who "anonymous" is before this sale is done and talk him off the ledge cause he will likely need it.
GLTA!!