my thoughts thus far

Thanks to those who provided additional information for me.

The prospect of high staff turnover is somewhat concerning. I haven't seen key goals in ann. reports of improving staff morale before. However the fact they have taken steps to address concerns (appointing Allan King as COO and Mark Ashley working from Wiluna).

Seems the place has been a shambles in the past from some of your posts.

However as I previously stated I am looking at Apex (rather selfishly) at my recent entry price. So while history is nice to know, the fact that they have resorted to raising capital through massive dilution doesn't have any impact for me from here.

For those looking at the high gold price, please take note the AUD gold price is relevant here not the US gold price.

We are looking at AUD1474, which is very nice to see and leaves some room to move. As gself indicated (sorry if it was someone else) if gold takes a big dive it will likely be all over for Apex.

In terms of operating costs and potential for profit from here, again I understand they haven't achieved well in the past.

However the settlement of the GUP notes will go a long way to address this. Seems a very good move by management given the current gold price.

Based on a AUD1400 gold price without the GUP notes the companies revenue increases by $4050000 (or production cost reduces depending on how they are reporting) per qtr.

The prospect of decreasing productions costs and the prospect of increased production is the reason I got on board here. The more research I have done the more comfortable I am with a ST upside.

Just my thoughts. Would love to know more about the previous staff issues, and some solid information about the current conditions at the mine...

Cheers,
JB