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Share
11/11/08
15:02
Share
If ever there was a perfect storm of a buying opportunity, it is now.
Gold at A$1,100 oz.
BELOW ITS CASH POSITION. WAY BELOW ITS NTA.
Mill in storage in NSW.
Near-term iron ore production. Capital costs of US$5m
5 year mine life at 50,000ozpa, at estimated cash costs of US$300oz, unhedged, with capital items paid for, and current cash flow.
Stockpile of 280,000t at 3g/t, to be processed whilst underground development ramps up.
A management history of successful gold mine development, with cash costs at the low end of the spectrum.
The MD buying $34k worth of shares ON THE MARKET at $2.69 less than 6 months ago. That is, 3 TIMES THE CURRENT PRICE OF THE SHARE.
Buyers of Troy will look back and wonder HOW ON EARTH DID I BUY A TRY SHARE FOR 87 CENTS?
These really are exciting times for the fundamental investor.
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