what is going on , page-19

Appreciate your point of view Stefanis. Before this transaction we all knew we were on to a good thing (high production, low production costs and massive reserves as well as all required financing in place and a share price that was massively underpriced). However I think GDO management have shown a sharp appreciation of risk management in the recent past (re. deleveraging risk on Goliath gold; getting the financing in place to uy out the convertible bond holders if necessary)and dont think they would have entered this deal unless they were very confident of being able to significantly reduce costs. If so, we will have a company with double current production in the immediate future and a further massive increase in reserves.