The problem here as I see it. Is not so much whether this company makes money or not. It does, a few key statistics from the last three years:
Revenue (in millions $)
2012 - 214
2011 - 152
2010 - 130
EPS (Net)
2012 - $0.53
2011 - $0.41
2010 - $0.41
Ounces produced of Gold
2012 - 137,000
2011 - 104,000
2010 - 103,000
But they seem to me to be a victim by their own hand. By consistently missing their own overly optimistic guidance numbers. Which is easy enough to do when you are ramping up your production as they are. And often enough beyond your own control.
You can experience delays with contractors, equipment, obtaining permits etc. Just to name a few of the potential pitfalls. Their April 12, 2012 press release could be just one example that I could sight.
My advice is to reign in the guidance boys and better yet, theres no law that says you have to give any in the first place. Guidance is just some ones best guess if you ask me.