Stock price when the opinion was issued
Stock is priced as though they had no exploration projects, which he thinks is a mistake. It seems too cheap. They did a reasonable job of handling their severe operating difficulties. Company has done a very good job of operating politically and socially in West Africa. Thinks political risks here are overstated.
Good deposit in Ghana and a well-run company. Thinks the deposit grows and they have another deposit in the Ivory Coast that is high-grade and will make money as well. Thinks this is something that should be acquired by a larger company.