why sp down??, page-9

300-400 Million not high? for company with Market cap of 850M it seems pretty good to me.Although I think it will be closer to 300M not 400M. last 2qtrs they brought in around 70 Million in Gross Cash flow per qtr. They current have Cash on hand of about 105 Million + 32 Million Gold in Circuit and owed aboy 15 Million from NMG for upfront short term loan.

lets say they have 150 Million + earning about 300 Million PA Gross CF.

Main uncertainty is will the situation in Mali get worse( seems to be improving now that French and other are onboard),
Gold price - has been fairly flat for last 6 months , where is it going who knows in ST but LT it will be upward while world keeps trying to inflate it way out of trouble.
Production decrease in Ghana offset by increase in Mali. Yet to be proven although currently things appear OK for meeting target.
Have management proven they can operate Mine is Africa , Yep have they bitten off two much with NMG. Not sure but from 10K feet they are better operator than previous management and Chinese for that matter. Did they get a bargain? time will tell based on the purchase of Syama from previous owner s maybe they will repeat although their approach is less risky