How's this for irrational behaviour:
A resource updgrade of 43% over the previous ann in Aug 2007 (when the share was trading around $1.80) sees the share drop from 68 cents to 62 cents!
And they already have $5.1m in gold sales to happen this quarter (4,250 ozs @ $1200AUD)
Plus as I see it...the upcoming quarter should be cash flow neutral and that's after having spent $4.6m on development.
Still got $6m in the bank and no debt.
Bring on the underground where the highest grade in Australia is!
My only concern...the cash cost! Anyone got a feel for what it was last quarter (can't be pretty) and what its likely to be this quarter?
pay dirt, page-6
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