Personally I'm a bit sceptical of this Sardinia business due to...

Personally I'm a bit sceptical of this Sardinia business due to the background of the chairman / MD*, who used to run a company called Gold Mines of Sardinia. It's like he won't let go of his past glories and has foisted this unrelated project upon a company that was doing just fine mining Indonesian gold for dirt cheap. The share price reaction may mean I'm not alone, the announcement was a bit thin on detail.

I still hold, but I'm hoping they use the proceeds from future gold sales to explore and expand in almost unexplored and highly prospective Indonesia, rather than burn cash in what I assume to be centuries-old and mined-out Sardinia.


* ideally the MD and chairman should be different people to minimise the control one person has and to reduce the chances of stuff like this happening