Ann: Primary High-Grade Gold Confirmed at Lewis, page-125

@Thadius

sounds like you havent read my posts of past 3+ months

im out on valuation basis - not share price fall basis

im not willing to hold through a construction phase when i cannot trust the CEO's acumen. There's better tuff cheapoer among the producers at current share prices - eg rsg,

At $50m mkt cap i was up 70% on my investment - and the stock had priced in 2/3rds of the rough DCF valuation I have for it on a 50-60kpa output story

The problem i have with CEO wasnt just the lairy spruiking that by itself isnt such a big deal.

Its that the release of information was in my view disingenuous - because the drill results found ouly tiny sub 80m intervals and nothing that conforms with the 'primary mineralisation' decription they lead that asx release with

Primary zone isnt just about the nature of the geochemical composition - its about the way in which the mineralisation lays down.

The drill results as i said were perfectly fine for supporting a further increase in high grad emill feed from another open pit. Continuity is truly shitty - but thats offset by the grade and interval length where there is gold.

But I saw no evidence that mgt really knows where the primary is.

So the story to me is - as i said last week - goes back to being one foot in front of another - not exploration driven in terms of large shifts in market value.

And i personally dont want to be there for a slow plod to 55c.

But as you say - one man's sell is another man's buy. I wish you all the best for the investment

Its not a rubbish stock. Its a good stock with solid upside

I just had a better place to put my money - once the CEO trust issue made the decision for me