Kununurra, TAM is dirt cheap. If you are looking at medium term,...

Kununurra, TAM is dirt cheap. If you are looking at medium term, then you will be well rewarded. The company is valued at $50 per ounce in the ground which is outstanding value for a producer. The summary is;

CONS
1. Bot selling by possibly chinese investor to suppress the price prior to a Capital Raising.
2. Operational issues at Coyote in October (running too lean on spares etc.) impacted on gold production
3. Brokers talking TAM down on pending Capital Raising timing (probably January/February now).
5. Untrustworthy Chinese shareholder and lender in Allied Ltd.
6. Challenging operational environment (hot, remote, wet season pending).
7. There are a number of critical milestones to be met to move the company to a 200,000 ounce per annum producer. On the past performance of the previous management team, investors are "once bitten twice shy".

PROS
1. Recent Ground Rush drill results point to a 10%+ resource upgrade for December.
2. BFS for May 2013 for Ground Rush then access to local bank debt to get Central Tanami back in production.
3. Good prospects for extensive drilling underway (surface and underground) at Coyote looking to upgrades for the Kavanagh Lode.
4. Very good leaders and people in the operations and exploraiton team in place (Andy Czerw, Tony Deacon and Peter Brookes)
5. Massive tenement position in probably the most prospective big gold country left in Australia.
6. Coyote underground operations extremely well run and efficient.

I hope that helps. Other contributors, please feel free to add anything I may have missed?