john cahill on brr today, page-4

Agreed nk.

I just wish I had more dough available to buy in a 3 cents.

When you think about it, their IPO was subscribed at 20 cents, when they had undefined resource across 9 tenements.
Now, about three years on, they have JORC resource, underground mine, plant, some production already, and still 7 (??) tenements with undefined resource. All in a market for Goldies that is a lot better now than it was then (see Goldnerds).

But while I guess they will get the current issue away, I think the jury will stay out in regard of the market perception of their management ability .. and who knows how long this perception will hold the SP down? I would have been more comfortable had they recruited a CEO with real track record (remunerated with options) ... before seeking a this lump of dough. Still, the directors are in the best position (groan). ...

Two years ago I though this company should be worth 100 million in time, and 40 to 50 in short term. Even though the fundamentals are still there, I clearly underestimated the risks, and so couldn't have been proven more wrong. I still think it will get there, but how long depends not just on production, but also to a larger than normal degree on senior recruitment, and improving their communications. (harping on!).