frustrated, page-6

morning all, hi alfie

" I wish the management would forget about Stone and concentrate on our own problems, get costs down, "

We are probably all a bit frustrated. Without having a go at you, I wouldn't mind having a go at some of the ideas above though.

As to management concentration - I doubt if management who are concerned with costs are involved in the takeover side of things much - possibly with the integration of assets, but not the t/o strategy. I am not concerned about that.

As to "... get costs down.."

Which drill rigs would you like them to switch off?
Would you suggest we pull out of TI?
We could even sell TI - that would save costs and generate cash at the same time?
Which pits would you like us to stop developing.
What development work at the Mount would you like us to stop?
Would you like us to not spend cash on developing the mill?

Seriously - we can do all of that and more - and we would rocket up the list into lower cash producers.

Is that what we want?

We could also sell the shares of cre we now own to Stone - and make a profit - if they aren't pulling our legs.
We would of course lose 100k oz production - production that we have streamlined and developed before with precision and timing - it would be a waste of our expertise - but, would save a buck or 2 to forgo only another 100k oz in this market of gold $1800 p/oz and rising.

Is that what we want - to remain a 70k oz producer who has pretty good costs?

Or do we want a 230k oz company with costs around $850 who is doing heaps of exploration and is hunting in serious elephant country and putting every buck of those higher costs into development and exploration.
Going from 70k oz to 230k oz in a couple of years and then god knows what?

What do we want?

have a great day

Pinto