Went to the Annual General meeting on Friday and things are starting to look good. Hopefully we will see the company finalise the deal with the vendors so that they can start giving us some information regarding these two mines. There was a brief presentation at the AGM which looked very promising but until we see what the deal is we are still very unsure of what is going to happen with the share price.
Both mines are producing a profit and after all costs there should be about $5 million left over . This is a pleasant change on what has been happening with the company before(losing $18 million for the year) Charles did mention a third mine at the meeting and a question was asked about when this would be occuring and his response was the company would make a detailed announcement in the coming weeks.
So at this stage it is a case of wait and see. One of the bigger share holders has been off loading his stock which has been keeping the stock price down even though there has been an increase in volumes. There were a few internet traders that started buying last week but when the stocks run stalled they dumped out on Monday and today. I think the next run may be the one to get on as there should be an announcement within the week. Happy trading
