emperors new clothes?, page-5

'Rabbit7777' my thoughts are similar to yours. Which means we both expect gold pouring to be less than 5000oz this quarter, say around 2500oz. That level is barely enough to sustain the day to day operations for one quarter.

Other factors like excessive rains, missing executive personnel, power connections will also weigh in with exceptional costs.

A takeover at this level also does not seem likely given continuous operational challenges & exodus of senior personnel. Market cap has gone to almost half of where it was in June 2012.

Happy to cut a part of my losses at this level given the negative outlook. Might buy back again after 2-3 quarters when the new management team has had a chance to fix some of the operating issues and get a chance to focus their efforts on gold production. Looks like that day is a good 2-3 quarters away given the pace of progress.

Was there any mention at yesterdays AGM re current quarters production update? In case anyone attended it.

IMHO, DYOR