open briefing director buys, page-2

More than a hint and about time

Cash has reduced from c. $12m to $4m over the past 2 months while debt has remained constant and the recent exploration results have been poor ie cashflow has not been covering exploration, and apart from the capital raising to Wyllie they are not reducing their debt.

They should drastically cut exploration. Buying back shares was not smart - the lack of buyback activity recently indicates they have finally worked this out. It seems they have finally worked out now is the time for bunkering down and waiting for improved operating conditions before seeking further growth.

Just my opinion
Monty