operational update from goldstone., page-46

I'd say whats holding it back is the agency risk associated with all the cash sitting there. i.e. its become clear in the press this week that management aren't interested in returning any cash to the shareholders but instead would rather pursue another company that isn't currently producing.

This means share dilution on takeover, cash burn on building up infratstructure of the new mine and the operational risk of getting the mine up and running. Not to mention timing risk of buying a gold co when the price is historically high.

I'm out for the time being - best chance for the co is that it gets taken over before it blows its cash.

good luck