GREY:GRFJF - Post by User
Post by
keizaigakushaon Jan 20, 2009 11:21am
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Post# 15715848
Analyst Concerns
Analyst Concernsjust read a couple of analyst reports on the recent WGI release. Most are concerned that beyond all the fancy leach pad verbiage, the implied message is that the recovery rates have fallen from 75% to 62%. If this recovery rate is consistent going forward, means about 15% less recoverable ounces of gold than originally planned from the feasibility report. Still, even after adjusting for these results, all agree that WGI is still trading at a hefty discount to its net asset value and pier group. I voted myself by picking up more shares on the cheap this morning, good time to get in.