On My Watch List... First of all, I wish to acknowledge those that have had to endure these most painful turn of events in regards to the hardships that the company is undergoing....it has been most difficult for me to watch on the sidelines...I have followed this company for two years. I understand your pain and trust me, I hope that there are better days ahead for those that have rode this all the way down.
However, having said that I am always on the look out for opportunities and I feel that there may be one developing here. I do believe in averaging down on a stock that has been smashed as long as it meets my analysis criteria.
Having said that, it maybe too early to average down for exisiting shareholders...the pain is more than likely not over...I will wait until the "dust settles" and a base has formed.
The expansion plans can be overcome...the only "thing" that bothers me is the grade that has been lower than previous quarters and below mine design parameters...it is concerning. The market will be cautious moving forward and would like to see a couple of quarters of grade improvement into 2013 in terms of historic mine production which will be rewarded accordingly.
It is on my short list and I will look to get in at the appropriate time...I will post when I do take a position....if and when I do.
Best of Luck to All!
Digger144
P.S. Even at the present grades of .30 ounces per ton...they are significantly higher than the norm...the only problem is the location of the highgrade...over 5,000 feet underground...that is a long way to skip the ore and waste to surface...the 12.5 tonnes skips will improve the overall situation.