Hi CNC,
thanks for elaborating; much appreciated.
I don't agree with some of your assessments / reductions, but you make some very valid points.
Only thing I am really missing is the recognition of the new management who took over recently. The gentlemen are performing outstanding imho: they are de-risking the production by delivering ore to another mill, they are paying of debt and closing positions (fully debtfree by July?), the strip ratio is impressive now, the reserves are being worked on with Cube, etc.
Also note that current reserves are 887.1 thousand ounces Au. Considering these numbers are correct: valuated at 25$ per ounce will give you a market cap of 22+ mln: the ground itself is imho still one of the strong pillars of the company. Anyways, it will be a long road to any shareprice recovery, even with good prod. numbers imho: Time will tell indeed.
Cheers
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