I thought the directors were quite patient with some of the foks that attended (showed up late and asked the same repetitive questions) that were already covered in the presentation and annoyed the bejeezus out of the other attendees and no doubt the directors. The directors were very polite I have to say.
One point that stood out is that the directors have had to put in their OWN CASH to buy shares and as stated the CEO is in this BIG TIME so it needs to happen. These aren't your flashy types who hype it up and then leave you the shareholder hanging.
I saw a lot of experience sitting there (referring to the board)with a great track record. There won't be too much exciting news coming out in the near future as capex is being used to set up a VIABLE BUSINESS and anyone who has ever done such things realizes what it takes. The fact George Jonesis still actively supportive is another vote of confidence as far as I'm concerned.
I didn't see a board going continually cap in hand to holders to ask for more cash and dilute the company. The Crista deposit will be a good return on capital from what was stated so that is the next highlight.
I walked away with a lets see what happens by Q3 next year in terms of things ramping up for this company. 150k OZ is the magic number. This is the plan for late 2011.
If there was more speculation on this company on the ASX then I'm sure some of the posters here (by the way I put Siamese carrot on ignore ages ago as time is too limited to time wasting - sour grapes from what I can see) would be happier, but it's solid business these guys are looking to build and that's where this is headed.
If you want guarantees then go buy a toaster.
The fact that Anglo Pacific is supportive here is a great sign. They strike me as a Franco Nevada (worth googlign these guys) type of investment outfit and those guys have great returns from royalties for their investors.
The new analyst from Flat Profits has to go in and justify his keep somehow so that no doubt involves changing what's been recommended by his predecessor and hence what unravelled the other day. Never was the company approached to verify or clarify the statements made.......
I don't know about you but I've always made more money following the big end of town (ie AP) than some ma and pa investors who run with the herd.
Not sure what you mean by the AGM being sloppy. Just not as uptight as others I've been to. These guys are here to grow a business and plan to be here for the rest of the gold run over the next 4 - 5 years.
I will be adding to my position as milestones are achieved and if the price occasinally gets beaten down then back up the truck.
MUN Price at posting:
28.7¢ Sentiment: LT Buy Disclosure: Held