Met the Managing Director at the Gold Symposium in Sydney recently. Boots-on guy. Probably Victoria's only Australian owned gold miner actually pouring gold (as opposed to majority foreign owned). Seems cheap at the moment, weighed down like all resource stocks. $40k would put you in the top twenty shareholders if you could buy that much without driving a thinly-traded stock north.
I just had a quick look They dont have enough cash to last more than a quarter (if their income doesnt pick up through production increase or lower cash costs) - cash down $1m on last quarter with expected $1.7m spend this quarter ($1.2m cash & equivolent) The geologist owns about 19-20% of the company MD owns only 550,000 shares ($38,500 worth @ 0.07)
