Mickeyd old mate ...There is no current debtYEPThere is money in...

Mickeyd old mate ...

There is no current debt
YEP

There is money in the bank from recent raisings
YEP

They are now producing a small volume, but nonetheless earning a trickle
YEP

Production at Warrior is currently being lifted to 40k oz providing $20m ann profit.
After a year it is proposed to spend !5m on Warrior to upgrade to 100k oz, which will provide $50m profit annually.
YEP

It is then proposed to bring Sunburst on line which requires $45m to develop.
YEP

Production in 2010 will then be 250k oz providing $125m profit. Which by the way is 19c /share.
YEP

They would therefore seem to have the development costs covered, with a softly softly approach that maintains shareholder value. But at a pace that does not excite the market or the SP I suspect. Maybe this is part of the problem with the depressed SP?
YEP - THAT'S WHY THEY HAVE NEVER JUMPED INTO JV'S THAT DID NOT ADD VALUE TO SHAREHOLDERS ... THEY HAVE HAD MANY, MANY OFFERS WHERE THE OTHER PARTY WANTED THE BABY WITH THE BATH WATER. GETTING ACCESS TO FUNDS NOW WOULD ONLY RAMP UP SUNBURST, BUT MGMNT WILL WAIT IF THEY DON'T GET THE RIGHT DEAL.

Does anyone else find it a continual annoyance that resources are nearly always in grams per tonne and production is always in ounces?
YEP