RE:Reverse Split's coming!
I wanted to wait a few days to see if anyone else had anything to say or input on this topic... I know i've answered this question and given my thought a number of times in the past 2.5 years so my outlook isnt changing much.
Fully diluted, EGX has about 305,000,000 shares outstanding. We are aware of the already potential of EGX and the mines we have already explored. We have sufficient funding to cover costs for further drills and met test work.
When you see them make comments about the low cost to find what we have already found ($2.00 /oz), they are referring to the fact that we have a huge potential upside and havent diluted the company to the point where profitability would not be possible. If EGX were to follow in the shoes of Kinross who bought FDN from aurelian for 1.2 billion dollars, the "profit" would be astonishing. Way beyond anything I am even hoping for, but entirly possible given the fact that we have ground that hasnt even been touched. If EGX were to sell tomorrow for $300,000,000, which is completely posible and, in fact, a probable dollar value, we would see somewhere near a $1.00 /Share price.
I guess it really boils down to your definition of profitable. It would result in a 20x profit for me as I averaged down to somewhere in the .05 range.
IMHO, EGX would have to dilute another 100,000,000 - 200,000,000 shares before I would show concern. OR, if we drill a few more virgin grounds and come up empty handed. Again, IMHO.