I do not consider the TGZ management to be unscrupulous, just incompetent. Some of them put in quite a lot of money buying TGZ shares at $3 when TGZ was divested by MDL (an ASX listed company also operating in Senegal - an interesting company with a major mineral sands deposit and processing plant owned via a JV).
Other goldies which have some upside at the current POG are BDR and TRY. BDR (low cost operator in Brazil) should have cleared its loan by the end of this year and should pay a dividend within a year, IMO. TRY is higher risk but hopefully will continue to be a low cost operator. I am not expecting a dividend from them for about 2 years - they have only had one good quarterly report in recent times but if they can keep it up they are also low cost. Plus they will double production in mid 2015 when they develop their mine in Guyana.
loki (I have some TRY and BDR shares)
TGZ Price at posting:
62.0¢ Sentiment: None Disclosure: Not Held
