Rustlers too low? What a ridiculous and uneducated statement. Want to point that out to CMM who have a similar resource and much larger mkt cap. Or RRL who are mining and making money at under 1 gram?
Do some research or read the company presentations. Rustlers had a feasibility study done on it in 2006 by a Canadian company who published it on SEDAR. Positive NPV at $650 gold price but not put into production as gold was at $600 at the time.
I think the board is on the right track. Money and executives have only been in place for 4 months. Give them a chance to get their feet on the ground.
Drilling because it adds news flow and hopefully positive sentiment to the price however one mustn't forget that with 1.2moz in the ground in the NT they probably already have enough for a project up there!
PGO Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
