EL, I would think a dividend of 20 per annum is achievable. At a gold price of $1300/oz and cash costs of $630/oz they should produce an annual cash profit of around $96M or 40c per share. This should comfortably cover further exploration, maybe a bit of debt reduction with plenty left over for the dividend. A dividend of 20c would also give a yield of about 5% - very high for a mining company so hopefully the share price will lift accordingly as the revenue stream consolidates. Am looking forward to a regular and solid dividend. I also liked Anglo's comment that Tropicana is a Tier 1 asset. Sirecho
IGO Price at posting:
$3.98 Sentiment: LT Buy Disclosure: Held
