For what it's worth I'm not worried at all with the SP, sellers and buyers at the moment. It me it looks like short termers closing positions after hoping for a delayed reaction from the JV deal. I'm sure a reaction will happen especially when the deal is completely done in about 6 weeks time. This all is fine for long term holders like myself. In the mean time we will have quite a few announcements coming in. While waiting we can just reread lonelybears Q&A to review how undervalued FNT is.
The drop in the price of gold should not be a big concern either for Andewa. We have to remember what the price of gold was over over 5 years ago when some big companies like our JV partner Newcrest decided to give the green light for very low grade projects like Cadia. Before 2003 the gold price was a virtual flat line for 10 years at about US$450/ou. In 2007 it had risen to about US750/ou. Big companies with billion $ investments don't punt on the gold prices forever increasing. In 2007, there is no way they did there feasability studies on a long term gold price of over $750.00/ou. Gold has more than doubled since then and companies like Newcrest as expected have been making bumper profits.
This all is good news for a low grade deposits like Andewa. Using existing large mines as an indicator for the profitability of a potential future project at Andewa is probably very conservative even if the price of gold were to dip below US$1200.00/ou.
Ari
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For what it's worth I'm not worried at all with the SP, sellers...
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