Value Microcaps Junior Miners

[cl001]

OK, enough of arguing here. Don't take any disagreements to the personal level. Both of you are respected members of the board, let's try to discuss it in a gentleman way.
I talked to the CEO briefly and am thinking to talk to him again. It is finishing up the financing now. Post financing they will have about 50 million shares outstanding, 60 million fully diluted. The market cap ~50million is undervalued for a 50K relatively high cost producer as long as gold stays above 1000.
What are the risks, do they have a track record to expand beyond 50K? What make you believe the current financing will be enough to put them into production and cashflow positive?