Ann: Quarterly Activities Report, page-7

The obvious question is if you believe it will go down to those levels why are you still holding? The last time I checked they still had 2.5 years worth of oxide to go through without any change to the mill. They are sitting on 20 mil plus in cash, no debt. I do not see a cr as inevitable. The significant figure for profits is the Aus gold price which is still up around 1750 because our dollar has gone down. I believe they are still looking at 75000 to 80000 ounces for the year.
Your near term observations on sp may turn out to be correct but long term I am not as pessimistic as you.