Says nothing new, blah blah blah.... so shareholders get 50,000 ounces by June 2008. What do we get now? and at what cash costs?
Gold production rising. IS IT BEING MINED AT A PROFIT? IS IT??? WELL tell us TAM. If it was, then no need for a massive write down in the accounts, or a massive reserve downgrade in the Annual Report. All is not what it seems.
When is the equity raising??? Yep, you spent over $50m in last 18 months and wrote off more than $50m in last financial report. How can shareholders trust current management to spend future money wisely? Placement coming at 8c? 7c?
No drilling results?
35km haul road construction is expensive.
Highly leveraged to rising gold price??? Sure, but you have to produce gold to be leveraged.
My observation, never a recommendation. Seek independent advice and if in doubt, stay clear of this house of cards. My view is never a recommendation, only an observation.
TAM Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
