I am about to start adding again soon, just waiting to see if...

I am about to start adding again soon, just waiting to see if the pre tax selling will get me a fill at 1.4, happy to pay 1.5 or 1.6, my average is about 1.4 overall currently, we have a much stronger case now than when I bought most of the stock I already hold so very happy to load up at these levels.

I first bought this at .7 and have made many adds since as people who follow this thread will be aware, the value now at these levels is much higher IMO than when I first bought at .7 so topping up here really is a no brainer for those with a longer term outlook and wanting exposure to a particularly highly leveraged gold spec with proven management effective management.

We even have some JORC resource now and an open pit mine that we can basically start dipping into when the time is right with price of gold.

If you take the outlook that I have which is that gold will make a move North from here over next 2 years, grades become much less relevant and quantity is what counts as margins increase, technology also makes the process more efficient.

The people in charge here know the gold market will move north over the coming years and will push to continue to define as much resource here to mine as possible, grades of .3 grams per tonne become mineable at gold prices not far above where they are now, we have huge tonnage of this grade already. Distance to processing plants would prevent this for most operations but we are so close so processing shallow low grade deposits at slightly higher gold prices is very feasible.

To top this off we are defining decent mid grade tonnage as drilling continues and have even hit a small area of high grade, but the importance of this is that we now know high grade exists on this site, so it is just a matter of time until more is discovered.

The overall aim here though is a low cost/high tonnage/shallow/open pit setup where we can use our very accessible location to mine where most operators could not due to costs. Our costs will be significantly lower so defining tonnage is what I see as being important, tonnage at slate is already looking good from my figures on this low cost/higher gold price model.

Gold only has to sneak up a bit for this to work in a very profitable fashion. We are not like other gold specs in that our location gives a massive advantage to operating margins, the experience of our management also means we are likely to get to actual mining as soon as its in our best interest to do so.

Good times ahead for those people willing to build positions and hold longer term, this one will take time as many others have mentioned, it wont happen overnight but IMO it will happen!