I think I understand what your saying APj. It trades rich...

I think I understand what your saying APj. It trades rich because they did what they said they would, generated cash and even implimented a dividend. That suggests they can do more and the latest acquisition looks like what everyone has been waiting for. The problem is the current operation isn't generating cash. The one they bought will be worse and require up front expenditure. The have paused exploration. The dividend should be next and they may even need funding. Unless the gold price bounces of course. Maybe I'm wrong somehow, or the market prices cash neutral in. I doubt it though. Hopefully someone on this forum talks to the company and can point out where I'm wrong on the accounting for cash.