We are plumbing new lows and that compelled me to call CEO Mark...

We are plumbing new lows and that compelled me to call CEO Mark Cossom today.

Nothing new to report, he says. He attributes the recent price declines to smaller shareholders reducing their positions. He told me that Top 20 shareholders have NOT been selling, which is good news.

Mr Cossom said he talks to cornerstone shareholder Kerry Harmanis every month or two. Harmanis is one of the most sophisticated mining investors in Australia. According to Cossom, Harmanis has pumped around $5m into the company these past few years. Obviously, like the rest of us, Harmanis has taken a significant haircut. But he is no fool and does not have a history of backing duds. I'm hoping Harmanis would call more frequently - the company needs guidance and direct involvement by Harmanis would be very helpful.

The very accomplished Peter Langworthy is still involved with the company. His Top 20 position remains unchanged. He dropped out of his many directorships recently due to family and health reasons.

Fingers crossed. Lets hope for better news now that the Gold price seems to be on the up and up.