I bought on the lows high 60's and sold just over $1/share...

I bought on the lows high 60's and sold just over $1/share within a few weeks. Good value compared last year's capital raising at the time I thought.

I'm not a buyer at current levels because I'm conscious of the reality which will present on permitting, a fully fledged feasibility and FINANCING.

I have no doubt all will occur, but the banker in me says don't invest again UNTIL my dollar funds the actual build which unlocks the future value. Its a way off that point yet.

Feasibilities ar all fine but you really need to see the fully diluted equity position with its banking terms such that it is funded through to production along with whatever hedge terms to know what you're buying.


I don't see a takeover happening now unless its with similarly cheap shares from a fully funded existing company with an operating team and ability to finance on better terms which then re-rates upwards on consolidation (Rand and Iamgold I agree both likely suitors).


In any case, the bulk of shareholders will determine that rather than management.