Arguing on spec the pros and consI think they (XRC) are being prudent given the collapse of the capital markets. Managing the cash flow carefully is good. cutting staff means a smaller workforce hence fewer drilling rigs. I do agree on the fact that they have to back up their rhetoric about a world class site with deeds this time around.
All the rhetorical puffery has put XRC in a corner, the gold bullion price is up and down depending nowadays on the way the wind blows out of Washington. Capital markets will ramp up barriers to qualifying for loans, meanwhile the XRC chart continues to put in new lows.
For myself it presents a good buying opportunity when the dust settles in the larger stock market, with all the fear mongering business news media running about one day gloom and doom the next hallelu'ya we're saved and so on the talking heads haven't got a clue where things are going, but they are good at spreading panic and euphoria both at one and the dame time.
Very confusing, keep your heads. Full speed ahead in this mess is not a good idea.
When your driving in foggy conditions better fit your driving to the conditions.
Then there is the constant inuendo, big mining companies etc; etc: Yet they play coy like some girlfriend that wants to keep you hanging about while they have no intention of dating you. Like flys round a pot of Honey or something else entirely.
Cryton