Ann: Trading Halt, page-55

I have held management in high esteem, and there is nothing in todays announcement that leads me to revise that yet.
IMO when a well managed company with no debt, and $80m in cash and equivalents raises significant cash - they will have a good purpose for it.

The year ahead has a number of areas of worthwhile expenditure, and will occur with the gold processing plant operating at 50% capacity. It will be the first year of underground mining - which requires a higher head grade to be profitable compared with open cut. From memory, the original Tomingley underground resource was not very high grade, which would mean that profitability will be limited at a time when exploration expenditure needs to ramp up.

I don't have much time for the share market conspiracy theorists. We all swim in murky waters, and calling manipulation at this time is a bit too soon, and therefore over the top to my way of thinking. The evidence supporting them (increased shorting, and some share price fall) could be applied to any company where shorting occurs.

I like the idea some have proposed - of a strategic acquisition, or some form of deal relating to ASM - as these seem to be more rational possibilities - along with my own thoughts that profits will be scarce in the year ahead, and exploration costs high.