EVG - Envirogold Limited

[grandia3]

envirogold has just announced a new progress report

it's looking good on the report
"ENVIROGOLD REPORTS ACCELERATING PROGRESS ON CONSTRUCTION OF
ITS ALBION PROCESS PLANT – LAS LAGUNAS GOLD TAILINGS PROJECT"

I don't get why the SP is falling

 

[speculator101]

I would hesitate to guess that some shareholders are selling now to raise some cash to be ready to take up the options which become available at the end of the year at 15c (2011).
Yes... it does not make sense when you first think about it... but they might be hedging their betts regarding the price... could even be viewed as prudent.

but... thats just one option, could be someone getting out as they need the cash?
or... someone does not believe that gold will go higher... as the media keeps harping about... sigh... I love it.. push down the price so I can buy more... gold.. and gold companies...

Go Bernake Go!!

Goodluck to all holders...
AND DO YOUR OWN RESEARCH..... ( I could be a teenager that works at safeway!)

 

[So_Cynical]

I don't get why the SP is falling

I would hesitate to guess that some shareholders are selling now to raise some cash to be ready to take up the options.
could be someone getting out as they need the cash?
or... someone does not believe that gold will go higher

Or it could be that the gold and silver price has fallen and there is renewed optimism in the USD and Euro etc...this is just a wild guess on my part as i really haven't learnt to much about gold stocks in the 3 and a half years ive been playing around with them.

 

[grandia3]

good point with the commodities price decrease

gold price has been decreasing lately

 

[Sean K]

Really, can these guys be serious?

A scoping study stating 100k oz pa without even having a JORC. Of anything?

It really is laughable IMO.

ASX / Media Release
22 March 2011
ABN: 48 008 031 034

ENVIROGOLD REPORTS IMPROVED AZUAY PROJECT ECONOMICS FOLLOWING REVISED SCOPING STUDY

HIGHLIGHTS:
● Production from Papercorp and Pinglio underground mines to be expanded in two stages;
● Substantial reduction to equity requirement;
● EnviroGold could book after tax profits of approximately US$250 million over 14
year mine life at US$1000 per oz gold;
● Increasing to US$365 million at US$1200 per oz gold;
● Primary source of funding generated by Company’s Las Lagunas project.

A 14 year mine life infers 1.4m oz recovery. And NO JORC!

 

[So_Cynical]

EVG had an amazing day today, the share price ended up 35.71% at the close and was as high as 47.5% up intra day on volume that saw about 12% of the company traded, 70 million shares...today was also the first day that we have seen the conversion of Listed Options (EVGO) due to there 15 cents strike price getting left in the dust of today 19+ CPS price action.

I didn't sell...as i have tax issues and just for a change thought i mite hold off and see what happens...wait for the inevitable new substantial holder announcement...needless to say my portfolio hit yet another new all time high today.
~

 

[speculator101]

Reason for share price jump

Hi all.
I realise I will always be out of my depth in this forum, but honestly, I have few like-minded people around me to discuss topics like shares.

So onto the my heading.
Last week, a mining research publication ( unnamed for the reason that it annoys the hell out of me that others get research that I pay for ) gave EVG the thumbs up.

Simple reason - the gold they have... has already been dug up..... So.. the only risk ( other than natural disasters ) is getting the leeching process going. Then... all those tailings... turn into GOLD! ( and... perhaps in the long term, more importantly... silver )

The valuation that the publication published is quote 'extremely conservative' and based solely on the first site getting into production ( The valuation is very much above the current share price).
So basically... everything else is blue sky regarding the share price.

exberliner1 - not sure if your still around, but I do hope you have been able to enjoy the first real bump in the share price since last year.

Kennas - you know a lot more about this industry that me ( I am in the Education sector, closest I get to mining.. is talking about its importance to Australia’s economy ) I would love to get an update on your thoughts about this company?

I have read as much as I can about the leeching process and it seems to be a proven technology... that is totally underutilised... but! then.. as I stated.. not really sure.

Anyway, hope all the shareholders realise that Brian J is not blind or obsessed about this company, he is just willing to put his money up as proof that one way or the other, the company is going to succeed.

Just in case, anyone didn’t notice, he took up millions of options ( that were out of the money! ) to ensure the company does not need to do another share placement. Which, I can understand upsets many people.. but I have followed other small mining companies.. and they have also done many cap raising... is EVG any different?

hmm... this post much look like I am some die hard EVG holder! but I am just really excited about owning part of company that could really assist me financially in the future. I guess I really just want to hear others thoughts and idea's on EVG.

Good luck to all holders... etc.
AND DO YOUR OWN RESEARCH..... ( I could be a teenager that works at Safeway!)

 

[So_Cynical]

Re: Reason for share price jump

Last week, a mining research publication ( unnamed for the reason that it annoys the hell out of me that others get research that I pay for ) gave EVG the thumbs up.

Simple reason - the gold they have... has already been dug up..... So.. the only risk ( other than natural disasters ) is getting the leeching process going. Then... all those tailings... turn into GOLD! ( and... perhaps in the long term, more importantly... silver )

The valuation that the publication published is quote 'extremely conservative' and based solely on the first site getting into production ( The valuation is very much above the current share price).
So basically... everything else is blue sky regarding the share price.

So tell us the target price? ... the fact that its a tailing deposit was the main driver for my original investment 3 years ago because i figure its a very low risk operation...good to see the industry professionals have caught up with my thinking after the SP has risen some 550% brilliant.

Kennas - you know a lot more about this industry that me ( I am in the Education sector, closest I get to mining.. is talking about its importance to Australia’s economy ) I would love to get an update on your thoughts about this company?

I have read as much as I can about the leeching process and it seems to be a proven technology... that is totally underutilised... but! then.. as I stated.. not really sure.

Anyway, hope all the shareholders realise that Brian J is not blind or obsessed about this company, he is just willing to put his money up as proof that one way or the other, the company is going to succeed.

Not sure why Kennas has a bee in his bonnet over EVG and has called the stock speculative...for me its always been a stock with a reasonable degree of certainty in that Las Lagunas certainly has alot of gold and silver that is easy and cheap to get at and the Albion process is 100% proven and tested with Las Lagunas ore.

https://www.aussiestockforums.com/forums/showthread.php?t=7127&p=591495&viewfull=1#post591495

The other projects are a side show and waste of time and money in my opinion, and the fact the Brian J pays himself 400K a year to manage a company that losses money is quite frankly discussing and shameful.

 

[speculator101]

Really appreciate the post So_Cynical. ( a good name if I might say so regarding share investment ) Good to see that you have been able to make some $ with your investment in EVG. Just wish I could have bought more at $0.031 ( ah those were the days )

I would have to bash myself up if I gave away the full share price valuation, however just the valuation of Las Lagunas project to the company is $0.42.
This has me quite excited, as I stated above, this is just 1 tailings deposit.....!!!!

Anyway, ( my wife just told me to not ramp!!! )
I believe that this week will be quite bumpy, with the price possibly going as low as 15cents, then back to above 20cents. Many shareholders will want to take some profits ( although considering that 32% of the company's shares changed hands last week, on one day... hopefully those wanting to stay for the ride have already grabbed hold.

I must admit, I did not realise that Mr Brian J was earning that much from the Company, that is too much, considering the company's market cap. I can only take solice that all the money he has invested/loaned etc has not earned him interest etc ( beyond market rates).

and please Mr Bernanke.. bring on QE 3,4,5,6,7,8,9,10+ ( BTW - i do not say this naively, I believe I have a good understanding of what will occur and have invested to protect my wealth )

Good luck to all holders... etc.
AND DO YOUR OWN RESEARCH..... ( I could be a teenager that works at Safeway!)

 

[So_Cynical]

I closed trade #61 today...3 years and 2 months after my first entry into EVG i decided to take my first profit today (60%+ profit) a part sell of my first and most expensive parcel of EVG shares...bringing down my average price a little and thus lifting my open profit % a little....my EVG position is now about 40% free carried.

The Belief Wikipedia says

"Belief is the psychological state in which an individual holds a proposition or premise to be true"

http://en.wikipedia.org/wiki/Belief

The above very much sums up my overall thinking re my decision to buy into gold/silver stocks 4 years ago...hindsight tells us that i paid to much for all my gold and silver stocks and that's true...however i kept on buying as the SP's dropped and waited for the market to catch up with my thinking and have thus reaped the rewards over the last 12 months.

Time is an amazing advantage that long term investors have...its an incredible tool, a life changing tool...has been for me anyway.
~

 

[Sean K]

Re: Reason for share price jump

Not sure why Kennas has a bee in his bonnet over EVG and has called the stock speculative..

Any stock is speculative SC. On the range of speculation between an EVG and a BHP you'd have to put EVG more towards the spec end I guess.

As an aside, interesting move from the company recently and its second largest shareholder, Denman Group. They bought about $150K in stock in Feb/Mar just before the spike and then sold over $1m in stock just after the spike reducing their stake from something like 9.2% to 7.8%. Nice work.

Then a few days ago, Mr Denman (aka The Denman Group) becomes a non executive director. His qualifications to be a director?

He has a couple of degrees, and worked for KPMG as an accountant.

Nice work by Brian Johnson also buying stock and converting quite a few options in March just prior to the spike and selling just after.

Must have been for tax reasons.

Did I read in June that an Executive Director was appointed for $350K pa? In addition to his pre existing compensation. Wasn't he already a Director?

I am confused about the 'trial mining' announcement a few days ago. It doesn't actually say what they did other than dig up some dirt and relocate it for the wet season.

Is that 'trial mining'?

 

[So_Cynical]

As of tomorrow (27-09-2011) Envirogold (EVG) has changed its name and its ASX code to PanTerra Gold (PGI). As such a new thread has been created and the discussion has been moved there: https://www.aussiestockforums.com/forums/showthread.php?t=23501