Ann: Quarterly Activities and Cashflow Report , page-6

I hope this is a fair minded post. I see the numbers and have read the report and do not disagree with those that say no big deal. I agree that it is possible that today's MC is fair value. But i think the following should be considered. It is no easy achievement to re-open a failed operation.The previous operation had crusher issues and a GFC. We now have production and a team that is confident of steady state production. Don't forget directors have put in there own money on more than 1 occasion.
My assestment. in repect of value on a risk reward basis would be a buy. I see little downside risk, where as POS, increase in jORC. steady stae production would add a lot to the upside. My opionion of course.