I suppose that depends what the medium term is.
I bought in and increased because I saw the ideal situation where one smallish producer would finance the demonstation of a highly productive "elephant".
The main problem is we have yet to show we can run a mine profitably.
The first yardstick is the quarterly.Almost certainly we will have a loss again.However if we can show the last month was profitable with new managament and richer ore, we could head back to $1 again.If not people may lose interest and she could drift down to 70/75c.
The next key point is the plan for Ground rush.This was promised for a long time ago and at the last meeting Don Harper said he had submitted all to the directors.
They(directors) have said it is big enough to require further information so that a bigger operation can be implemented.
If they can demonstrate this is the case and they were not just hanging out a feeble excuse for being late and tardy then I believe we could head out for the $2 that she is worth.
However there are prerequisites.The first is we have show we know something about mining and producing profitabily.
Secondly the feasibility study is going have to be professional and watertight.
We are now far enough up the ASX ladder for institutional investment and this will be looked at very carefully by professional people They unlike me know what they are doing.They will avoid us if we are sloppy and unproffessional but if we demonstrate a good case for .>200k oz production then $2 within a year is possible and so is $5 within 5 years.
The last driver for this in the medium term is our drilling results.If we continue getting the results we are getting then $2 to $5 is possible any way.This is because even if we cannot demonstrate managerial competence someone will take us over.Increasingly this is starting to look like the size of operation ,that someone like say Anglo would like.
So in summary downside 70/75c(another support here is shear value of plant and equipment) upside $2 to $5 depending on what you call medium term.
But dont put your house on my opinions I dont really know that much about mining
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Last
3.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $35.25M |
Open | High | Low | Value | Volume |
3.0¢ | 3.0¢ | 3.0¢ | $9.048K | 301.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 28000 | 2.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.1¢ | 71496 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 28000 | 0.029 |
3 | 203685 | 0.028 |
3 | 468416 | 0.027 |
1 | 1153846 | 0.026 |
2 | 599560 | 0.025 |
Price($) | Vol. | No. |
---|---|---|
0.031 | 71496 | 2 |
0.033 | 700000 | 2 |
0.034 | 500000 | 1 |
0.035 | 85000 | 1 |
0.036 | 833333 | 1 |
Last trade - 13.39pm 25/12/2024 (20 minute delay) ? |
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