I figure institutional selling would have already happened by now Tom, given all the nightmares on Elm St in 08! Directors still own their ~6m shares too. This is the 7th gold mine the management team have developed (they developed the first gold mine in Tanzania i think) and will sell this one to a major, returning cash to shareholders. I'm eagerly awaiting the first gold pour next month. Signs are that all is proceeding well given the recent share placement was done at a premium to market price (contrast that with other gold developments at the moment).
Rowingboat.
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