key to them getting into production is availability of funding, as it is with all juniors. In previous announcements/presentations, they talk about a Saudi government backed group that provide funding for such development projects. They will find it tough to get funding anywhere else even with their great resource & grades.
I've been in for a while higher up (18c). I've met MD & was very impressed. Management look good.
I don't see much action until they announce something definitive on funding. I would switch & do the gold first (they own 100% gold, but 50% of first copper/gold one).
The underground drive is already there, saving them plenty.
a long term buy for the brave, but I'm not buying anything in this crappy market, until I'm sure we've seen THE bottom.
cheers,
ned.
CGG Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held