The Brains Trust, page-4523

Nordesmic

I have not been following that closely so I do not know. I just checked out their headline figures to remind myself that they could survive a downturn in the gold price. They are debt free, but probably have some leasing obligations.

The one nasty for me (besides their lowish grade) is that they sold a royalty stream to Franco Navada in respect of the Senegal mine, which for the first 6 years requires them to pay FN net 18k ounces of gold and then it becomes a 4.8% net smelter royalty payment (or something like that). I do not think that they always include the cost of that royalty when they quote their AISC.

It is an illiquid share. The rebalance action will take place tonight on the TSX and there could be some follow up rebalance related trades on the ASX next Monday.

Some one is selling at $3.16, so if one wanted some shares one could put the order in at that level, which is what I did. But for all I know (which is very little), it could trade down to $2.80 or lower if the gold price tanks.

loki