solid performance-go the chariot

The month of July has seen solid performance from GTM,up 37% since 30.6.03.All told a pretty good effort,considering CBA have sold down a reported 10m,probably switching or meeting redemptions.

I thought the just released quarterly read very well,advising drilling programme in place this quarter,targets well defined,good hedging set for 150,000 oz. at 11% above current spot gold price.Bank funding in place.Production should start from the spiral decline in just 10-12 weeks.

I hear two brokers were recently on site,any reports around??My guess is expect a good early lift in reserves and mine life.I stil think something like a 1 for 3 consolidation ,when GTM are around 10c,will see a big revaluation and get rid of decimal point trading.I think that price attainable,perhaps even before production starts up.Then go the good CHARIOT,Robert might even decide to come on board,he needs a new challenge,as NPL and MIM have both fallen to foreign owners,sad but true,then instos will unfortunately usually sell for the favoured short term gain.
SEARAY