I agree that the price here does not as yet reflect the true value of Evander. Personally I think we must assume that the board has got a good deal with this purchase and the figures look attractive to me even with some decline in the production.
The only negative here in my view is the future of the gold price. As I see it many of the short positions on gold have now closed http://www.tutable.net/thread/15-gold-recovers-over-4-of-recent-falls-due-to-short-covering.html
and quantitative easing around the world is likely to decline in the near future. As such I would have to give this one a hold only.
Recent fall appears a little unjustified given the sector performance. My guess would be this is a bout of profit taking brought on by the ex-div. It’s a hold IMO unless the drops are justified.
Just my opinion dyor