The PNG terrain isn't easy - I will give you that but where did you get info around the costs, to determine how achievable the goal actually is? I cant seem to find anything.. Other than HGZ production costs being under $400 per oz. That extends up to 500m deep.
Regarding the long play - Getting gold back to market to stimulate buying - Isnt that exactly what we would hope for being a gold mining company? Also I dont see why Sam would be underwriting another cap raising, if there was no belief in an achievable end - seems like false economy.
PS I'm not a new investor, Not sure how closely you have been following but I do believe we are better positioned in the near term than many junior goldies - even with a shotty gold price.