RE:RE:RE:laggingYou only have to look at the other Mali operators (Randgold & IAMGold to name but two), to see that the re-dissemination of this news item today is just that - old news (Sept 2013). I must say that the timing of the re-release (on the day that gold has a significant breakout) seems a little opportunistic, but I'm generally not a conspiracy theorist...
Yes - there is risk in W. Africa, but EDV currently pays 6% royalties and 30% corporate tax on their earnings there, in addition, the Malian govt. has a 20% stake in the Tabakoto mine, so I don't really know how much more they can reasonably expect to strangle the golden goose (who lays quite nicely for them) before the threat of investment dollars fleeing to their neighbours becomes a reality. The minister for mines is ex IMF, so you'd like to think that he has at least a reasonable grasp of basic economics.
I did not sell a share today. Clearly with the benefit of hindsight I should've flipped at 85cents and stacked the bid at 81cents, but I am holding out for a bigger reward than a 4cent turn.
I'll post my calcs for EPS delta when I get a chance, but it doesn't take a genius to work out that EDV just got cheaper today (projected earnings up, s.p. flat currently), in fact probably the cheapest it has been in some time especially considering the favourable swing in company fundamental economic outlook since the start of the year.