Hi 5to12:)
No doubt they made a huge mistake paying too much for Allied Gold with cash and diluted equity.
I do agree with you on the shocking high production cost for Gold Ridge (Solomon). Simberi(PNG) is barely profitable. A legacy of AG. An other 8 months (Q4) will tell us if they can meet the cost reduction strategy from achieving the economy of scale. $222mil debts is also a concern...
Gold production at Gwalia & King of the Hill are decreasing with production cost increased from $580 to $850/oz..
The only positive stuffs are: sold Southern Cross with all future liabilities with that asset for $20mil. Exploration up site, et to be seen.
Just a trading stock for me.. No long-terms investment at this stage.. Cheers
looks set for a run, page-55
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