I think you have hit the nail on the head bobthedog.
The debt will continue to be the main drag on the share price until the company shows they are capable of paying some of it down rather than just leaving it on the balance sheet or even worse, adding to it.
We have been told that Vietnam will give us something like $39m EBITDA (if all goes according to plan), so management need to meet the targets and use the cashflow wisely to prove to the market that they are worthy of a re-rating.
Just look around the ASX for the amount of rubbish that is in the gold sector that can never meet production targets or costs (Norseman and Mundo/Minera are two of the worst offenders) to see that the market has good reason to be wary of junior goldies until such time as they start living up to the expectations.
Here's hoping. Mackec
OYM Price at posting:
21.0¢ Sentiment: LT Buy Disclosure: Held
