shares seem cheap , page-9

For anyone that has not read the quarterly, share price slump is no doubt attributable to two factors, lack of production and out of the money hedge book. By Dec 06 they have to deliver about 75K oz for payment of about $407 USD per oz. This puts the hedge book in the red by about $16 mil at current prices. So I guess that the market is pricing a hefty dose of what if as far as production goes. Anyones guess where this one is heading.
Too risky for me, if they continue to suffer production shortfalls with their hedge book as is it will only be a matter of time before the vultures are circling. They have the goods to survive lets see if some good luck with production can pull the shares out of the death spiral. All the best to holders, I hope that they can get the place ramped up. mine has a lot of potential.