RE:sixIt is great news! On the downside, it is 3 steps forward and 1 step back. Although the back step is the PEA release which is, again, slated for Q2. (Now till June). All the investors sitting back waiting for tax rate %'s should now be stepping up to the plate to climb aboard EGX. I would be very surprised if we don't see .06 or better today. Then we should get some results from the additional work sometime soon as they will need time for the PEA this 2Q.
Basically what they will be looking at is what type of machinery to use as they appear to have chosen to go with the 80%/80% extration for Gold and Copper and then they will need site specific locations for the mill and ponds. Should not take very long as they started in December and from what I have read and seen on Heap Leaching, is not nearly as in depth as the MET work they did before. Right now the mine will cost about 1/15 of what resources we have. If they can cut the cost by even a $100,000,000, it will have a few cents onto sale value, not to mention improve the capital costs needed to get this off the ground which makes this more appealing to buyers.
Now to see how the market reacts........ GLTA