My views are somewhat contrary to a number of the views above.
A number of things I would say to look at - especially when compared to other spec. stocks in the marketplace.
1) they are a producer of gold - ie they have revenues - albeit the last quarter was not that hot
2) they are cash positive on an annualised basis
3) they are profitable - look at the cash statements - $10MM of revs and $1.15 MM of net cash - which we should expect will be reflected in annual report, which will when released will draw more attention.
4) Directors remuneration implied not to be that high - 06 accounts - show very limited drawings - and with annual admin expenses $350k last year - implies little if any increase in directors' remuneration - so where will they generate their value - from the same as long -term holders - share vlaue.
With underlying positive cashflow and profitability the fundamentals of the business are heading in the right direction. To a degree the last quarter smells a little of balance sheet maniputalion and some form of agenda - maybe their expectation the gold price is going to rise - looking at the age of the directors - they are experienced.....
On balance for a short-term trade - its a poor announcement ...for longer term holders I see this as a solid underlying performanace with the management getting the fundamentals of the business right and not unecessarily converting ore to finished gold - for what purpose.....when the cash generatability of the buisness is there...and the development and exploration is essentially self-funding....
By comparison to a hell of a lot of other spec stocks out there this is still a little hidden gem - compare this to other specs that are all about blue sky and not based on actual production and profitability.
For longtermers this will pay off IMO for traders - well go find someting else to play with - and I include myself in that capacity - I have some long-term but also trade the short-term volatility.
Just my thoughts - happy to have healthy dialgoue but for me this is a longer term hold.
DYOR
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Last
11.0¢ |
Change
0.014(14.6%) |
Mkt cap ! $102.8M |
Open | High | Low | Value | Volume |
9.8¢ | 11.0¢ | 9.7¢ | $114.1K | 1.121M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 47619 | 10.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.0¢ | 269998 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 47619 | 0.105 |
3 | 534800 | 0.100 |
1 | 8500 | 0.099 |
1 | 10000 | 0.098 |
1 | 50000 | 0.097 |
Price($) | Vol. | No. |
---|---|---|
0.110 | 269998 | 4 |
0.115 | 448956 | 7 |
0.120 | 1100479 | 10 |
0.125 | 213913 | 3 |
0.130 | 543507 | 7 |
Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
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