One must consider the reasons for the SP fall and if they have been reversed before one gets to excited about a potential retracement.
This is what I don't understand about the bulls position on this stock.
Mine has proven to be problematic in more ways than one.
Production is well below expectation.
Positive cash flow has been proven difficult to achieve.
Ore grades have been lowered.
Senior management have jumped ship.
Balance sheet is getting worse.
AISC has been and continues to be very high.
Exploration results have been poor to date.
Life of mine is short and getting shorter every day.
Currently no exploration due to lack of funding.
They are mining in a country that is considered to have plenty of political risk.
Cap raise required at a very dilutionary price.
What's changed absolutely nothing.
IMHO until they find more gold this is a dead duck walking.
Hard to find gold when exploration has been cancelled due to lack of funds but I guess that makes the month to month AISC look better for those wearing rose tinted glasses.
Remember relying on hope and wishful thinking is not a great investment strategy.
