Changed status to long term buy even though it is worth a look at todays price in my opinion if you are willing to be patient as 1912 points out, I have a feeling that first drill results from Crater Mountain and first production from San Chico are going to come at around the same time, great driver for the SP if it happens but a little way off into the future yet.
The funding they received and are going to receive in the future is to be dispersed in exchange for shares, this is the way I read it and I could be wrong so feel free to correct me, if this is the case we will get the effect of small insto cap raisings and dillution everytime they want to draw more cash, on that basis they should not need to come back to the market for more unless they haven't done their homework on the figures. This works out very well if you are the one financing the deal with things delayed as they have been as you are likely to get a greater volume of cheaper shares to hang onto if you know the SP will move once results start coming in.
Annemc makes a good point, why not buy the separation plant from Brasil, surely they have the capability to build one or is the Aussie product and technology just that much better, something that is beyong my knowledge and better left for someone who knows the workings of such plant to comment.
After watching companies like CTO ramp themselves up to the max and continually fail to deliver on their hype I hope that GOA is not going to go down that same road, I have no problem with delays, as previously stated with the two Countries involved it is expected to a degree, but surely management must consider this when they release statements to the market and should factor that in. I have great faith in the assets this company hold and on that principal I still hold. I live in hope that the companies management lives up to being as good as it's portfolio.
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