Don't get the wrong idea though, there's no way I'd touch this...

Don't get the wrong idea though, there's no way I'd touch this with a barge pole until they overcome some significant hurdles.

And a lot of research is to be done to find out exactly what's going on with this company.

I'm thinking if they DO end up getting 300k oz per annum up and running and they can get total costs down to even $1000 per oz, they're going to turn a massive profit with a very long mine life.

They've said they'd rather go into debt to fund the CAPEX for this upgrade instead of diluting the company which also appeals to me. Once that debt is paid back, the rest is straight to the bottom line.

Put it this way, even if they produced at a whopping $1250 per oz costs, once the debt is paid back they would be turning over a net profit of almost the entire current market cap per year.

It's one to watch, mainly because of the excessively large resource. That's very rare in Australia and it's hard to see them losing any value in that regardless of whether or not they themselves can get the gold out of the ground economically. Someone will at some stage, unless there's a massive tree on top of the deposit with large blue natives living in it.