The shares have a 4 month hold. PNP shares are much more liquid & if they appreciate in value EVG could come out not too shabbily. If this was the only way management could do a deal to raise money then it's better than selling assets or worse still going bankrupt.
It's costly but given the alternatives & EVG 'MUST keep the drills turning to prove up what they can before it's too late to salvage the company. This is going to be IMO close to mangements last chance to prove there is a minable resourse or selling assets will be next to keep paying to drill more holes.
All in all a very intelligent & creative way to keep on going IMO. Mr D has to get this company into the limelight again before it's to late. I have been hearing & reading that 2013 may be another poor year for metals so lets hope it doesn't come true & metals take off especially gold because with the low interest rates deflation is becoming the next enemy & is not great for gold prices generally.
I hope some of you looked at HWD which I mentioned awhile back. If you did your DD & bought you should be happy you did & bought about $4.60 when I mentioned it. It should do very well this year if US housing improves.