RE: Cheap or expensive stock?Our friend Bruce Campbell made it his top pick last night. He basically said he was very fortunate to get out of the stock two days before the bad news came out, and true to his word he jumped back in in the mid-5's. He repeated that the company feels very strongly that there will be an announcement by early November that the project is up and running again, and he supports that belief. I have always believed that as well, but it is nice to hear a pretty well respected portfolio manager (and pretty conservative) say that as well. You can assume that he did his homework before jumping back in. He was also conservative in his estimate at where the stock price will go upon an announcement that the project is back up and running. He said $7, but I figure $8. The stock lost about 1/3 of its value when the announcement was made, and since then it has moved up about pretty much equally with all the gold stocks, so one has to figure that it will get 1/3 back upon a positive announcement. And after some consolidation, it should start to move up from there as well because the take-over talk will begin. Paul Wright did make reference to the fact that they will be looking to make acquisitions, but in my mind this talk is necessary because if they are not taken out then they need to show growth. Ekemcufuru will provide some growth in the future but it is not a huge project, but more of a small high grade project which will provide good cash flow. The iron ore deposit in Brazil is interesting, but I think they will set it off and use the cash for acquisitions. I think they will be conservative in their acquisitions like they were with the Chinese acquisition; something that will be accretive quickly. ANO and MNR would both be interesting acquisition targets because ELD is so familiar with Turkey. ANO is much farther along with one project ready to go into production. MNR has some gold resources and appear to have the ability to grow them through exploration. ELD could also make acquisitions in China. Cheers to all longs.