Eagle Hill Exploration Corporation V.EAG

not much reaction?

[tomgranite]

I'm a bit surprised at the lack of comments here. We have waited more than 6 months for this milestone. The share price has not changed much and not many shares traded either. Maybe the webcast will create some interest. I'm hoping that there will be news of what their drilling intentions are over the summer.

[gold_Gold_GOLD]

Personally Tom - I am a little more on the disappointed side based on the current sentiment in the junior mining space.  I have said it many times - only certain projects will make it in this environment.  If AU had been consistently trading around $1300-$1350 range then the base case looks much better.  I don't like the low IRR and the payback period of 3.4-3.9 years is on the

[tomgranite]

Goldx3, I hope there will not be a problem with raising cash to further the project. Dundee are now in the driving seat as SA have no cash. Another possible source of funding is Qatari Mining who invested in SA only to see their investment collapse. They are keen to be invested in a gold producing mine so maybe they will step up to the mark when required. Unfortunately for those of us holding

[gold_Gold_GOLD]

Good point about Qataries – could be a possibility.  30 min from now we shall see what they say.  I wish I could listen.  Looking forward to hearing people’s thoughts after.  

[tomgranite]

Very fast presentation style, did not give people much time to think or ask questions. Totally different to Proust's ummm and ahhhhs. No indication where cash will come from to fund next steps. My guess is they will wait and see what happens with SP over next couple of days. My impression is that they will do a lot of reviewing (PFS) in order to try and improve the numbers in the PEA. Also try

[gold_Gold_GOLD]

Clearly they are going to need money.  Budget 30 mill for everything they need to do. -which isn't going to happen.  Any best guesses here?  Raise a smaller amount to drill more this summer? Get some of that inferred into the indicated?  More drilling below red dog?  

[BigGoldleaf2400]

I dont even what to commit

[tomgranite]

Page 19 of the presentation suggests that $30.6mil will get us to Feasibility (Bankable?) stage. This also includes expanding the resource so maybe the economics will be better by the time we get to production. I guess the cheapest way to add value is to drill to the West which has already shown some decent results. The portal that they intend building at the West would probably easily help mine

[tomgranite]

Market reaction is clear enough - down she goes. Trading is very light, just no support. Don't give the shares away folks!!!!

[witsguy]

Ouch repay the cash in 3.5 years or so for only 8 year mine life? 8 Years only? Sounds too small but what do I know!

[tomgranite]

I think EAG board also think it is too short at 8 years, that is why they want to look at increasing the size of the mine. To think that SA board looked at 40 companies, did DD on 18 of them and they end up with this PEA. They really could have done better.