As a general comment, for MAD's share price to increase,...

As a general comment, for MAD's share price to increase, production growth is key (must also be profitable & cash flow positive) . The market will treat reserves upgrades with a grain of salt as they have already discounted existing certified reserves i.e., they don't believe the numbers. Also, listing on the NASDAQ is not a panacea for share price appreciation. Production, cash flow and profit growth will ultimately determine MAD's share price growth. I will give MAD until April/May 2014, however, I have a stop loss in place and will sell out if the stop loss price is triggered. I must declare I have done well out of MAD having bought at 20c and sold out at about $1.20. I only recently bought back on the basis of Lee Clarke's on-market purchase and the appointment of Mike Yaeger. I must also declare I have lost money in other speculative stocks and have learned valuable lessons re risk management. I happy to tell you both the good and bad stories. Good luck to the holders. Nando - I respect your decision to sell out. Hopefully, the next couple of months may give you reason to buy back in.