People probably need to remember the govt take from Oyong/Wortel due for a big step up.
But I like the cash flow, and I believe they have and continue to make an appropriate level exploration effort for he companies size. A little more would be nice.
I inferred from the report that they were looking to acquire more exploration opportunities in preference to development opportunities. I am happier with this approach, assuming the door is still left open for opportunistic acquisition of small development interests (as was the case with Maari).
EL
revenue up 43%, page-5
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