This one will probably re-rate once the market actually believes they are producing gold and getting cash and things are going smoothly.
If you look at any of the small explorers that moved into production, there was a ramp up of the price earlier as things progressed, but the prices seem to stagnate before production until at least after the first quarter of production, etc.
Obviously this is still quite small in terms of producing.
The Philsaga transaction delays don't give people a lot of confidence about doing business in the Philippines.
There is almost no promotion in relation to this stock - their website is terrible, is difficult to find announcements and is generally not up to date in the summary information (ie no mention that they are actually producing).
Whilst the JORC resources are quite low, I think there is a lot of gold in the area, so production will happen for a long time to come.
The stock is fairly tight, but there has been some more decent volume in recent times (possibly due to some release from escrow).
I have this stock from the float and it has done well. I also have a price target over $1, and all things going to plan expect it will get there this year.
Cheers
Marvin_Mindreader
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