ann out: excellent results santa-fly camp, page-7

The company is addicted to prospecting and spending on drilling rather than
been focussed on making money. Now that IGR is up and running the objective should be to produce as much gold as possible, retire the hedge and bank the money and then invest it in drilling while maintaining $40 mil or so cash in the bank as a buffer against the unexpected.
The current strategy seems to be "Grow at any cost" and the market realises this and is nervious about cash depletion and another $20 mil loan facility while it has over $8 mil debt yet to repay.

Cheers
Moorookamick