(Top Pick Jun 26’12, Down 68.75%)Great management Team. They have a plan to increase reserves to a million oz and production to 100 thousand oz. He has full confidence in him.
As a new director of this company, he is limited as to what he can say. However, if you go to their website, you will see 2 very important announcements. One is relating to exploration results on an adjacent pit to one they are mining. The other is the production rate in the 2nd quarter.
This is a company that hopes to develop a small mine and build a bigger company based on cash flow. He sees this as a reasonable group of people and a reasonable small project but, as a consequence, he sees no real reason for him to own it.
Gold is out of favour. It could get the push with all the other base metals. Chart shows a bit of a breakout so it did overcome previous resistance. Does look like it’s on its way and it could benefit here but there are better plays out there. Would not pursue this one seasonally.
He is a director so it limits what he can say. Go to the web site. He purchased 250,000 shares this week. He doesn’t see an impetus for gold except that India may issue Gold-backed bonds. This could change a lot of people’s attitudes toward gold.
Being a director with this company, he is limited in what he can say. Very keen on the company. If you go to their website and look at what has been said in the last 3-4 months, you will get a picture of why he is enthusiastic.
His inclination in most of the small gold companies is that they have had absolutely spectacular moves over the last 12 months. If he owned, he would take the money and be very happy with that.
He would advise viewers to go to this company’s website and looking at the management discussion, which you might find interesting.