RE:RE:Now what?BrendanC wrote: Thats just it. Do they risk manage and hope gold goes up sooner than later or make a move? Gold would have to really take off to make this site, as it stands, attractive to a mining company OR EGX would have to do some drilling soon and work fast to meet the deadline under the new Ecuadorian law. Now, in Ecuador, they only have so much time before they have to either sell the company or mine it. I think it is 2 years for exploration with the possibility of a 6 month extension. EGX must be close to, if not past that mark.
IMHO, this management has done as much as they can at this point. Deller has sunk $30 million dollars into EGX right now and another $1.8 million (US) would hurt our profit margin when bought out and potentially risking losing everything. 1.8 million would dilute our shares by about 10%. Face value right now is only $9 million. I see new money stepping in to take their turn at the site. EGX gets bought out for .20 or .25 and we all walk away with some spending money, Deller nets 150% profit on his 30 million dollars, Glenn's 4,000,000 shares at .01 nets him a huge payday and we either walk away, or as I plan to do, purchase a few shares of the new guy and see what happens. This is obviously a guess and in part business sense. Deller is a smart man and very business savy, he got into EGX to make money and he isnt going to risk losing everything to dream about a $200,000 buyout now that a poor PEA has been delivered. He's going to do exactly what I said and make money on a sale. I do however hope that we get at least $45 million (US) to get our .20. All in my opinion of course.....