Regarding changes in management, he said the firm employs >100 people so changes are not a draconean matter.
What a crock of shite!! We're talking about the guy who runs the mine site being sacked!! Not a lowly director! Obviously, he was sacked for good reason or LEG management will have a law suit to deal with!! And the statement of "we'll know in 3 or 4 months on where we are at" does not sound too confident. Sounds guarded to me! I would not be puting anymore money into this one until after December. Money invested now is an out and out gamble!! Management need to prove themselves!! Give you an idea of management dreaming is the business plan for Bronzewing for 2002. They called the individual agendas BHAGS (big hairy arsed goals). The main crux of the Bronzewing business plan was that they expected to be producing 800K oz of gold per year and have 10 years worth of reserves by 2004. The reality was that by March 2004 the site was closed and sold off with about 300k of reserves. The GM of the time is no longer an employee of Newmont.
Your money, but there are better, less risky gold miners out there! On Steve Savilles valuation of gold miners, RSG should eventually have a market cap of $1.1B. Now that's a 5 bagger from current market cap. He also predicts a gold price in excess of $1000 by 2008.
LEG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
