So it is costing $700 an ounce to get it out the ground,well done Mr Reading. It seems like these guys know what they are doing and maybe will turn this around.Oh well another year !!
I can only dream of some averages on here!! Jumped in Oct.2012 on a tip (share price then 50p,) but have averaged down to 15p. Should stick some more in but have lost nerve having endured 4yrs of pain.Still believe David Reading built this mine because of the quantity and grade of gold still to be found in that area.
IN the next 12months i hope (1) gold reaches $1400 , (2) the mine runs at capacity,and (3) they discover further good gold deposits .Then maybe this share price could double or even treble .(not too much to ask is it)
gone very quiet on here lately, a lot of the old regular posters have disappeared into the sunset , also only 4 share trades this morning! Unlike Chaarat Gold who doubled the share price in a month ( on talk of takeover) could the same thing happen here?
lets assume they make $300 an ounce with annual production of 100,000 ounces =$30,000,000 per year.
Say 7years tp go =$210,000,000 or at todays exchange rate £170,000,000 so 2.625p a bit low ?
good news that they are carrying on the exploration out there,hopefully with good results and if the price of gold rockets we may see double figures one day!!
yes maplepilgrim like you i have spent far to much on this share. and the worry is if the good times come the small investors will be pushed out of the party somehow
dreams of £1 a share have long been crushed , now ils dreams of 10p a share which will still leave me way out of pocket !! oh well lets hope they find a lot more gold out there