RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: Merril Lyn 250-500k economic oz with the royalty program would halt the sp decline. we don't need anywhere near 1m oz let alone 2m oz to get this project moving forward. read up on cgc before it was taken out by Gammon (now Aurico)...1.1m oz, low grade, open pit...$325m...2010 when gold was wayyy lower.
and if GBB does get creamed after the 43-101, then that's the buying opportunity...all provided mgt can then execute. the NR will be a useful indicator of the clarity of their vision. if it waffles and disappoints, then chances are mgt is still drifting towards the next crisis.
mgt would argue they have been buying...Frank exercising Dec warrants etc...trouble is that it was still effectively financed from the company coffers via his remuneration package...i.e. it was a transfer cost. no one was fooled into thinking it was anything otherwise.
so, yes, it is disappointing that mgt have not been buying straight stock, but that's also another amber/red flag that this mgt team are not necessarily the best to lead this project forward.
- good project + bad mgt = bad investment in bad market; average investment in good market.
- good project + average mgt = market performs in a bad market; does okay/well in a good market.
- good project + good mgt = okay investment in bad market; great investment in good market.
GBB mgt just needs to remove any doubt that they can be an average mgt team rather than a poor mgt team...the oz in the ground will do the rest.
just my opinions,
sjm