Trying to find a positive method of looking forward, or to make...

Trying to find a positive method of looking forward, or to make the final cut.
- 140k gold this FY, how much next year?
- hedge and other financial misadventures behind us?
- total cost on last quarterly was 1135AUD, with greater volumes this reduces, to target 1000AUD?
- big capex last quarter that should be reducing now?
- gold price over 1100AUD these 2 years saved the company
- big resource and multiple mines, reducing single point risk
- multiple mines are harder for instos to value well
- major shareholders Sprott, Baker Steel are known long term investors, presumably HK are also. Norton family have reduced holding.
- still plenty of debt (37 mill?)
- share price has been into the 30s, but seems settled around 20, even with the lately strong gold market

OK, so lots of questions and no forward looking statements from the company. Generally the mine situation seems positive, with volumes expected up for this year. A large portion of the operating margin this year is likely to be used for debt reduction, a positive result might be possible under say a scenario of 200k oz and gold 1400. FY2012 should be the more exciting year.

My holdings date to pre GFC and then early 2009 for buys and then selling only since that date. Net result still slightly negative at current price, like most longer holders I am guessing. NGF is no longer a major holding, decision time. After taking the time to write it out, I think my conclusion is that a small accumulation under 0.20 will probably work out well over a 6 month period and nicely over 18 months.

This positive given this company's record may be too optimistic, but thats gold mining for you.

Finally, I only use back of napkins for calculations, just m y thoughts on my situation.