so smart it must be stupid

TAM holders.

Don't get me wrong I love this stock! Which is why I am about to sell it. So if anyone can prove me wrong at the moment I will thank them for keeping me in.
The logic is this.
Just on the Central Tanami JORC of 2,000,000 ounces in ground with a recovery cost of $800 per ounce we arrive at a in ground value of 2 Billion dollars. Divided by 290,000,000 shares and we get around $6.80 per share. Now for all those analysts out there, I am well aware that this is really basic back of the envelope stuff. However we are not including the other gold reserves within TAM.
So either this Board of Directors has a hidden agenda or they have just been proven incompetent. They will have their company taken away from them just as soon as one of the big players cast a glance at them. Grossly Undervalued does not even begin to describe the hole that the current management has manufactured.
If however they come out in the next reporting period with a profit, that is heading toward some kind of dividend, then it is my firm opinion that the BoD will find it very hard to get another job once the industry knows they gave away one of the best gold resources in Australia.

Venting by Tectona and DYOR