You are right - Van Eyk dumping the shares that is largely...

You are right - Van Eyk dumping the shares that is largely responsible for the drop in price over the past 3 weeks.

But at this price it is cheap for a bigger player to take it over. Some analysts have it valued at 55 cents up to 85 cents.

A hostile takeover could see someone snap up 10% on market cheap and the other 90% for only 50 cents a share - this would mean they would have bought the whole company for only say 47 cents a share.

And they also have $55 million in cash and $15 million worth of gold bullion on hand - total is $67 million.

This may well happen. Only risk is the current quarter production - fundies are waiting to make sure the Board delivers on it's promise for 2 consecutive quarters before they jump in.