Its a buy, page-97

@zopa

nice link

ive read a lot of talk about the sp and company/ops deliverables

i think this is one to be getting very long here on a 12 month+ view

the chart screams classic elliott C wave either just completed or completing soon. filling the gap in the chart suggests it probably completed yest

then when i look at the report - seems clearly set up to slightly outperform both through next 6 months and have a material lift over next 2 years

its probably a live takeover target atm. its quite cheap for where it operates, it has some excellent tenure that a bigger miner would feel could be more heavily invested in to expand more quickly + bring the aisc down

- that operating cost is probably the only major flaw I can see and it's nothing when you consider the cheapness of the stock on ev/oz and implied forward ev/ebitda basis

i agree a dividend scheme would appear to make sense

i dont recall seeing an intermediate gold miner with that much cash vs mkt cap for 12+ months as a ratio - though Im sure its occurred.

but it does stand out as odd and not immediately understandable to me