slverfreak:I agree about gold mining ceo's not caring aboutshareholder value. These guys, the t-key running Orezone are textbook cases. i.e these guys should pause on any other mine buidling for a couple of years after finishing mamato and do nothing else but buy back shares and pay down some debt. A year or two down the road, if gold has entered into a new price range, go ahead borrow some money and invest one of their two other projects. Meanwhile with half the shares outstanding, it would be the equivalent of them producing 1 million oz a year vs 500,000, as the best investment they could make is buying back the shares of a company trading at a fraction of NAV and a 50% or so free cashflow yeild. But alas, they will charge ahead and invest in the new projects rather than prioritising share holder value. IT is so tough to bring on a mine, and if they are able to brjng on mamarto there is no way they should use up those precious reserves by finanicing further expansoini, without first addressing buying back half the shares outstanding. Start by doing a dutch auction and biying back 30% of the share oustanding along with a 10% NCIB. This is what should be done once marmato is built and some of the debt is paid off. If of course gold is . 2000.
Guyana etc can wait.