I think everyone realises the mine development is on hold and the project is currently valued at zero by the market along with about $29 million of cash they hold if you don't also include the $2 million which is payable for the remainder of their Burkina assets and the interest which would accrue on an annual basis on the $71.5 million holding (approx. $2 million at an term deposit rate at a bank of 3% per annum). They are spending $4million on Kitumba FS in the first half of 2015 and further expenditure is subject to staged reviews based on milestones. Hardly a game changing cash burn.
As far as your exaggerated estimate of "Admin i.e corporate lunches and first class travel, inflated salaries and director retreats" in the order of A$16m per year" goes, well....... is all I can say to this.
I don't mind you trying to talk down this stock with your mischievous posts. The lower the price goes the more I will buy and the greater the potential margin I'll make when the company buys the stock back. That's if I decide to sell at all. The situation with Glencore and the Zambian government will eventually resolve and the project could still advance on any unexpected improvement in the Cu price. meanwhile there is always the chance of a low ball take over offer from Glencore or other opportunistic suitors.
If you want to bring to this thread, bring better than the some confused ramblings that developed from the momentary sparking of a few lazy synapses in the back of your brain.
Eshmun
IAU Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
(20min delay)