Simply put the target was for 200koz now the update puts that at...

Simply put the target was for 200koz now the update puts that at 189koz, so it missed target by 6%.

problem they have is more to do with credibility and the forming belief that Victorian Gold miners are a higher risk proposition.

Putting all the cards on the table it is as follows;

1. Cash at March was 16million.
2. Production for June Qtr is 42koz
3. Production estimate for Sept Qtr will be around 45koz
4. Funds are required for the mine development, cap raising or debt? Cap raising will hurt the SP further.
5. December Qtr production should be a good one, but can they be trusted to deliver?
6. Predators will be circling at these prices.

Ok short term SP pumped to hit 0.25, then a cap raising of 0.21. Long term 12 months SP of 0.35/0.36.

I was fortunate to offload at 0.29 at yesterdays open.

But current price is way overdone, but not going to fight sentiment.

Watching closely.