The buy-back indicates another bumper QTR ~20,000ozs at current gold prices is a very nice return. I don't think people have twigged even now, every $10 increment in Gold is another $200,000 profit per Quarter based on the 20,000. Since last quarter the price has increased from ~1,240 to ~1,270, $30. That's 2 million bucks a year (70,000ozs). More than enough to assist in the buy-back and fund on going drilling and development costs.
Not sure about the consolidation either. I like big numbers in my portfolio (well big for me!). Based on the executive chairman's quote have we been talking to institutional investors but they can't justify buying based on shares on issue? Seems weird to me, value is value, regardless of shares on issue. Don't see OZL, PNA, CBA, et-al having problems with the number of shares on issue.
Happy to hold for a little while longer.
The buy-back indicates another bumper QTR ~20,000ozs at current...
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Mkt cap ! $110.8M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | $2.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.15 | 5000 | 2 |
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