Reassuring presentation. My take: further drilling to prove up reserves/resources (and good increases already in the bag); no large capex until that is done (so FCF this year, good chance of self-funding capex next year); and enough in current properties so no M&A. Clear path for production to get to 120k oz easily, then higher with a bit more work. Also expect marketing activity to step up now MD has got a team in place. Overall, I think SP is heading back to low-30's within next 6 months.
MOY Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
