Hi MardoI respect your views but have to admit my knowledge of...

Hi Mardo
I respect your views but have to admit my knowledge of the technical aspects of gold mining are Nil.
I tend to use my previous skills as an accountant and credit analyst to take a more holistic approach.
1 ) Charts are difficult with small volumes but $1.10 is an obvious support. Watch closely at $ 1.30 ( see todays movement on very small volumes )
2 ) Coming into traditionally soft time for equities
3 ) Gold price could go through the roof with QE3 but this is unlikely to happen in my opinion so gold price could come off.
4 )Poor communication from management with history of missing targets.
5 ) Potential profit margins are good but see 4 above
6 ) Political risk ?
If these people came to me for money the answer would be to value the company at $1.10 less less risk margin with funding dependent 09/2012 results being in line with projections.
There lies my rationale. Revisit at end of Sept. If I miss out there are other businesses out there.