Yeh I can see it recovering, but its gonna take some time.
I bought in at the the bottom of the down trend at about 31c. We had a bit of a bounce that I could have exited on but now i'm trapped lol :). I could cut my losses. But this one is going into the bottom of the drawer for me. I think in 1 years time, or even 3 to 6 months, the sp will be north of here, possibly substantially. I think you could easily double you're money here.
Now onto something of substance. It's just a matter of them getting their act together in their mining. Getting on track to hit their FY 2012 target which is what ? around 120-130k. This will also help to drive cash costs down. Then we have the other factor which is the gold price which is looking bullish imo.
If all these factors fall into place I think you could triple you're money here and possibly more.
As I said this turn around will take awhile. In the shorter term we will have to wait and see what progress news they bring out as obviously this will effect the sp.
Also must be remembered they have very good resources and reserves and at a good grade for a company with this market cap. They also have a good established mill. They just have to start showing some more profitability selling into this strong gold price.
.....
On a different note up 15% in London trading friday. Good to see.
Add to My Watchlist
What is My Watchlist?
