gold companies as a wholeit is so depressed that they need consolidation and reduce over paid execs and excess spending to produce at low cost and generate ebitda. current cycle has never existed and the smarter operators will prove to succeed. Just follow the entrepreneur spirit. Stop looking at financial philosophy. it is offer and demand supported combined to low cost producer way and currently this is the perfect timing to see more merger and acquisition. Same culture companies have a unique chance to set up the table for the next decade. currently seating on a SP value of 16 year ago WOW - just unacceptable glta hopefully this painful timing turn around as we all need it...