I hear you Shaun and FWIW, there's a 9% divi going begging at HBR plus the prospect of a multiplying SP through 2024 - I have boatloads there already at 220s and as I get older, it does also make me wonder why I bother with nonsense like this when HBR is so much more solid and reliable with the prospect of oil exploding via Middle East concerns.
Can't blame people for bailing or buying in at this point I think - there's so much mud in the water now that it's an impossible read - not sure I'll ever believe anything they say again, it was hard enough to do that before - as others have said, it's a lot of gold but what's the use if it repeatedly ends up like this, even with Gold at an ATH - I bet the shop in the Jewellery Quarter is doing nicely though ...
He was talking last year I think - trust me, if anything had actually happened towards producing from Dugbe in 2024 we'd have had to order some long lead time items this Summer already - obviously we haven't, so we're not.
I found myself earlier trying to come up with the words to frame a bet against this bulletin board that they'll never get Dugbe up and running themselves or I'll drop a grand to the board's chosen charity.
I stand by that, nobody but nobody will back this mob to take Dugbe to production, no chance whatsoever - you realise the pre-production costs alone are $400m, yes?
If you want a hint of positivity, however, re throwing a bit more cash towards Dugbe, it would be with respect to finalising some specifics for a possible buyer or a JV partner which I would support (assuming we're a minority partner) and is the only way, in reality, that we'll ever be involved with Dugbe IMO, other than selling it.
Maybe because in the mind of Betts and co, Gold is likely to be far higher than the hedge the more time goes by (and you can take that to the bank ...) so they're as keen to squeeze it timewise as much as price?