ECUADOR GOLD AND COPPER CORP V.EGX

59 more gold deposits

[Wheeler44]

About The Company Eurasia Gold Corp, ( v.egx ) is a gold producing company incorporated in Canada and headquartered in Toronto, Ontario. The company operates two gold mines in the Republic of Kazakhstan through its wholly owned subsidiary, Andas-Altyn LLP. The company’s primary business is mining and processing gold as well as acquiring and developing additional gold deposits in Kazakhstan. The mines use conventional open-pit mining methods and gold is extracted by heap leaching. Mining projects The Central Mukur and Myaly mining licences host 59 known zones of oxide mineralization. Six of these zones were mined during the year 2000. The remaining zones are at various stages of exploration or development to ensure continuity of mining operations. The two projects have an estimated resource of 850,000 ounces of gold with 67 zones of oxide mineralisation remain to be explored, according to Minesite. It is Eurasia’s objective to increase its annual gold production incrementally to 60,000 ounces. This increase will come through increasing the production capability of the two existing projects, and through acquisition and development of other oxide deposits in Kazakhstan. The Board is continuing with its chosen strategy of running the company on an un-hedged basis. The value today of the two Gold Mines development and infrastructure would cost about $40 millions. Add the value of 59 more gold deposits with feasibility studies, and nearly 30 years of exploration activities made by the Soviet will indicate Eurasia's market cap of CDN $10.65 millions as of December 10, 2003 to be extremely undervalue. Highlights from Q3, 2003 earning report ( in US dollars ) - amount of gold sold was 7,443 ounces - average production cost for the 9 months was $246.00/oz - gold was sold at an average price of $362.89/oz - revenue was $2,701,000 - net profit was $169,000 Potential profits based on Q3, 2003 operating costs and expenses 7,443/oz of gold sell at current spot price of $415/oz will generate a profit of about... 415 - 362.89 = 52.11 x 7443 + 169000 = $556,854.73 7,433/oz of gold sell at $450/oz will generate roughly $817,000 in profit. Outlook for 2004 We can expect large increase in revenue and profit in the upcoming quarters as Eurasia will greatly benefit from much higher gold prices. Management has also proposed that an additional exploration of ore zones at Central Mukur will be initiated to further increase the mineable reserves during 2004. The combination of higher gold prices, increase revenues, and the 2004 exploration program can help lift EGX to new height. Eurasia is a small and low cost gold producer that will offer investors the best leverage in a rising gold bull market, imo. "Positive earnings immediately put a penny stock company above 85% of the others. If those earnings are showing signs of increasing from one quarter to the next, you may be able to profit greatly from the underlying shares, especially if you get in early and the trend of increasing earnings continues... In the end, a company can only survive by making more money than it spends. This is a fact, and a very painful one for many investors and corporations who have lost sight of the rules of the game." Penny Stocks: The Book by Peter Leeds Interview with Ferdinand Lips a world-reknowned gold expert https://www.smartstox.com/interviews/gata.html Contact Eurasia Gold Phone: [phone] Fax: [phone] Suite 2215 - 120 Adelaide Street West Toronto, Ontario Canada M5H 1T1 https://www.eurasiagold.com Gold in Kazakhstan - Eurasias new Texas! imo, All the Best! /W