OK, I'm going to be un-PC here... but I think what this debate over a dividend demonstrates is the misunderstanding of many of the capital intense nature of starting up a mine and employing the proper  investment strategy  - namely a growth company - to a junior miner. Yeah, the Barricks, Newmonts, AngloGold Ashantis and Goldcorps of the world should pay a dividend - not the juniors with 1/10th the production.

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>>>How long should we wait for the market to  recognize the growth story?<<<

You wait as long as it takes to get the double, triple or four-bagger.  er, unless one is an "efficient market" theorist who believes that the growth is already factored in.  I think the reasons you suggested all demonstrate why EDV is under-valued and with time will get fixed. So here-in lies the opportunity - buy while perception is skewed.  It just requires patience.

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>>>What if a low-ball takeover happens in the meantime, robbing us of our reward?<<<

Hey, that can happen, but I suspect it will be a nice +35% to +45% premium to a weighted 20-day moving average.  That will be a nice bump and "reward" for those that didn't employ a buy & hold strategy and are sitting on shares with a cost of over $5.  I think management is smarter than selling out here at a low ball offer.  Don't we have a shareholder's rights plan anyway?  But hey, I already got a nice premium for AVR shares....so doing it again will be gravy.

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>>>With the current cash flow, this company can continue to grow AND pay a worthwhile dividend of 10c or so <<<

First, I'd like to see someone dig into the financials and NRs and demonstrate, with real numbers how EDV has the cash for a divi?   But, Huh?  How fast do you think one is going to get their money back by capturing a 10-cent dividend per year?  Once the market "wakes up" to EDV's growth we should easily double in price.  At your proposed dividend rate, doubling your money would take 18-years.  I'll take a double in the share price in the next 12-18 months instead.

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>>>This will give a big boost to the share price as it will attract a much wider range of investors.<<<

Those who are looking for a "re-rating" are going to dump EDV if its strategy is to pay dividends.   I think paying a dividend tends to attract those looking for stability and cash flow, not growth.  But to suggest that dividends would increase share price and allow for better equity fund-raising?  Huh?  So you want a dividend so in the future the company can further dilute your position by issuing MORE SHARES?  The beauty of EDV's strategy is that is is self-funding from cash flow and doesn't need to dilute shareholders.  All of the growth goes directly to shareholders.

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>>>For an example, look at MMT last year, an oil producer in Nigeria.<<<

Huh? Your example is an oil & gas company?  That is like comparing apples to skateboards.   I sure hope guys like you aren't able to  "convince management" and in essence wreck this great growth story for some piddly dividend.  Such a shame that anyone would be willing to sell out  a multi-bagger investment for a few pennies worth of dividend.

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jmho