heads up .. no news .. news for some , page-7

re: no news is bad news Agreed!

Management have decided not to release monthly production figures "under advice from advising brokers to remove the associated volatility that will accompany inherent fluctuations in short term production figures".

Discussions with the company confirm a certain degree of spiv factor. Advising brokers obviously well aware of problems and looking after some clients early for short term trading gain during recent round of promotions. However, there is always inside running in junior stocks so no suprise really.

Disappointing that management cannot be more clear and pragmatic about facts/disclosure plans and cop it on the chin. People aren't stupid and will assume the worst anyway. Ill-advised and incompetant at best; too cute and generally spineless probably; caniving and misleading possibly.

My read as someone from the mining industry is that problems are short term, entirely predictable, indeed expected in this sort of refirb project. I am backing the project and technical people long term and so are not interested in short term volatility, especially in the teething stages, other than for trading purposes.

To date management has rather stiffed long term holders with the low priced placement to friendlies getting set for AIM listing. However, this has provided a great opportunity for more recent punters like me to jump aboard at bargain prices. I see managements clumsy handling of Aug production figures associated with pressure to ramp/maintain the share price prior to AIM listing (at discount to then share price of course).

At the risk of looking more a fool, I predict that next few months sees share price run up into next gold price rise coinciding with AIM listing. Capital raising for phase 2 into AIM at discount to provide liquidity (30c) then a concerted push on the retail side to get the price moving again.

London has horse power, will value projects at much higher multiples than cynical Aussies and aren't that fussy if the right brokers give the nod. Current management might not have much credibility in Oz but that won't bother the Pom's much if played right.

The end game for me and management is a highly profitable, >100,000 Oz pa producing gold mine with expansion multiples for blue sky in a rising gold price enviroment and loudly applauding Pommy market.

Good luck long term holders.