Why is this not 200p +7 Jun 2011 15:36
I’m at a loss as to why this company is priced this low.
From the third quarter results;
http://www.investegate.co.uk/Article.aspx?id=20110414070000Z9561
Gold produced 42,086 oz
Average price received $1,304 oz
I estimate they should easily do 56,000 oz this year.
Average cash cost $699 oz (though this is falling and has been reduced to $521 in the last quarter).
This gives (1304-699) x 56,000 = $33,880,000 (possibly $36,700,000) from gold production for the year.
This is exceptional when you consider the company only has a market cap of £45.6m.