Ann: Change in CDIs on Issue , page-6

As per my previous post Loki.

"The big news is that the ore zone underneath the current pit may not be able to be mined profitably, hence the drop in share price. It does look cheap on current production though."

Since then, they've also told us there will be no positive cashflow for approx the next 18 months (from memory). All money will be re-invested into the business.

It certainly looks ridiculously cheap on it's own merits, but not really any more undervalued than a lot of other gold stocks out there, imo (eg. MML).