Legume you seem to be looking at different cashflow statements to the rest of us?
The company has generated cash from operating activities of no less than $160m over the twelve months to 30 June 2011. That was during a time where the AUD gold price averaged around $1,360. Not bad going by my reckoning with 260m shares on issue.
The AUD gold price has now risen to $1,790. mmm, that is pretty attractive by my simple calculations to what impact that could have to cashflow.
Bernanke to start up the printing presses again to inflate gold price further, Australian economy struggling surely will lead to weakening of AUD will lead to anyone's guess where the AUD gold price will be in twelve months time. $3,000 AUD gold price by no means impossible when Dipidio starts production.
Dipidio just over a year away from production (sure there are certainly risks to this timing and capex).
Happy to be corrected with logical reasonable arguments on HC if I am missing something.
OGC Price at posting:
$2.34 Sentiment: Buy Disclosure: Held
