Ann: Syama Underground Pre-Feasibility Delivers Major Boost, page-3

Yes agreed torpedo, however due to the weak sentiment in the gold market even great news like this doesn't result in big moves. Any small hiccups, however, result in big falls. I am a LTH and was considering whether this was falling back to the low 20s like it did in March, but with this news it looks like it will hold.

There is still some time before they release the Definitive Feasibility Study which is due in the March 2016 Quarter. At present they continue to mine the open pit at Syama which has delivered record ore production so far and that will continue before they expose the underground ore and this will upgrade ore reserves to see them through till 2028. All seemingly good news but just at a bad time. When the DFS is released and they have a much more accurate figure for ore reserves, plus they commence mining underground at Syama, RSG should see a re-rating I would hope.

Until gold doesn't move out it's range of $1175 - $1220 USD all goldies will also be range bound unless they show cash balances growing at significant rates like SBM has.

GLTAH, stay strong!