Excellent news - all cylinders firing nicely!Can't for the life of me figure out why anyone would want to sell at these prices given rising gold prices (likley to break through $1300 in coming week). This company will be producing at an "all-in" cost of $700 thereby providing a $600 cash profit on each ounce sold. Annual production of 110-120,000 ounces, gives $66 - 72 million USD of cash flow pre-tax. After tax (17%) cash flow is $55 - 60 million USD, and after deducting the government's 10% free carry, cash flow attributable to shareholders is $49.3 to $53.8 million USD, or $66.6 to $72.6 million CAD. On a per share basis, that's $0.17 to $0.18 per share after year one. The math is pretty simple. Even at $1,000 gold, the company still makes money.
I understand that we're a year away from the $0.17 to $0.18 per share cash flow, but even if you scale this back to $$0.10 per share cash flow, you would think the shares would be trading a little higher than $0.33 today. It's pretty obvious the sellers here don't have any faith or are just plain near sighted.
Patience longs. You will be rewarded.