The announcement is positive, resource increases by 9%. If it...

The announcement is positive, resource increases by 9%. If it was any other gold mining company, I would personally think this is great. However, I have some hesitation about Blackham reporting good news about reserves or resources. Are they still trying to paper over their problems or is this genuine? The stock price and recent quarterly announcements do not give me sufficient comfort.

That being said, I do hold quite a bit in this company, more so because of its long term investment potential as indicated by their reported reserves and resources. I do not expect short term miracles, though I am at leisure to accept it in them showing me that they have reduced their AISC, increased their operating cash flows and are able to cover their short term debt without relying on external financing, least of all more dilutive equity raising.

I might sound like I contradict myself above. However, I am thinking from a longer horizon. I believe the few faithful holders that are posting here are possibly thinking along similar lines. Many posters in this forum appear to me to be quite tired of this company. I empathise with them.