Conspiracy Theories?I know it's all good and fun to crack up conspiracy theories, but do you really think that's what's happening?
Things that would keep me from investing long:
Ezulwini mine has an average cost per ounce sold of $1545 and although this is 60% better than Q1 2010 it's still pretty high considering the big guys have this cost below $500. They "anticpate" a cost of $857 per ounce by Q4 which would be great, but still needs to get better. With new management, even thouh they've done well so far, it remains to be seen whether these savings can be realized.
Interest cost have increased 142% year over year to 8.65 million on revenues under 40million
This straight out of management discussion: "The lower consolidated loss in Q1 2011 compared to Q1 2010 was attributable to the foreign exchange gain on translation in Q1 2011 compared to a substantial foreign exchange loss in Q1 2010 along with improved results from the operations, partially offset by increased other expenditures and interest and accretion expenditures." So losses were down about 20million over last Q1 but there was a 20mil increase just due to currency gain,
Debt to equity ratio of 1.03:1 compared to .62:1 from last year
I know there's a lot of good, but I'll be sitting on the sideline for now, maybe try and play some short gains, but this company seemingly has alot to prove still and has a lot going against it...
Do your DD, there could be lots i'm missing...