Agreed, I would expect the Covid situation to hurt them by at...

Agreed, I would expect the Covid situation to hurt them by at least 2-3months on plant build but shouldn't be more than six months. I don't want to keep harping on but at 28c their market cap is $146mil against the ~$170mil they have in the bank. As a leveraged play for the gold price that provides significant safety margin. On a cash burn basis a six month delay shouldn't cost them more than $3-4mil tops.

At this price the take over risk has to be getting pretty high - I mean someone could offer a 60% premium (45cps) and fund the entire thing by 40% debt against the $170mil the company has in the bank. A good bolt on for a mid-tier player wanting a cheap asset adding 100,000 ounces/year with upside.

I'm more overweight than last post... this will be my first time breaking the don't catch the falling knife rule... hope its an exception. Again, if the facts don't change, I don't think I'll be able to help myself re not buying more....