I sold the remainder of my shares in RND a while ago when all...

I sold the remainder of my shares in RND a while ago when all the problems started mounting up... Declining grade, mine closure, NST issues, mill access etc.

My view is that gold held is below 30k ozs at about 28k ozs.

The current AISC (when you consider production costs and development costs for the 12 months ending Dec 20 of 30M+ and gold produced of about 16.7k ozs) is north of $1,800 and rising.

This company is a real black box because information shareholders should know is withheld, and Billis has no intention of informing the market. A lot of the margin buffer that used to exist to offset this uncertainty has now gone, so I'm no longer comfortable holding.

The company manages the gold stock on a first in first out basis, and due to the significant levels of gold held in inventory, this means any gold sold reflects the cost of mining a few years ago when grade and production was much stronger. This makes the company look much stronger when looking at current P&L statements. Redrafting the P&L using the current cost and production profile would make the company look much weaker.

I don't think the company position is as strong as some believe.