lack of confidence, page-70

The dumping continues.

I might have to lower my entry price to under 30 cents.

You can sort of smell there is something not quite right.

But I dunno what it is.

Potential buyers are now very wary of this company, so support simply crumbles.

The company needs to come out with an explanation of its cost profile over the next 2-3 years. In particular it needs to explain the costs of developing the various ore bodies it will need to access over the next 2-3 years.

Trust in management team is very low.

If the POG heads down this will be 20 cents or less. The upside at the current POG is only to around 50-55 cents at best. There are still 5 weeks of tax loss selling to come. So why hurry and buy now?

In contrast there are other goldies holding up rather well and some even going up a bit today.

Fortunately they have a fair amount of cash to get them through a POG fall (if that happens) and the hedge will also help.

loki