I agree. Keep in mind those are likely the BS cost numbers that are completely irrelevant. I doubt the all in sustaining costs have dropped much at all, probably less than the decline of the gold price. So it is even worse than it appears. Lode is not going to 5 cents or 50 dollars anytime soon, both of those predictions are silly.
Profits have always been one of the most important things here. What value does 5 or 10 million ounces of gold have if it is not economic to extract? The answer, at current prices, is almost zero.
Lode has spent something like a 100 million+ dollars for the privilege of losing money on every ounce produced.
I haven't been following their cash position closely but I think it is again starting to dip into the area where Corrado will consider another raise. He has the worst timing ever for these raises so he will probably do it shortly. If it is done at this level it would move lode to the low one dollar and change area (IMO). I think they have around ~6-8 M left, which maybe barely gets us to the end of the year if they scraped the bottom of the barrel. If we have a further decline in gold prices lode will be in for some serious pain and more dilution. A share-price below a dollar is possible in those circumstances.
Other stocks in the sector other than lode have been doing better recently for the most part. This could mean lode is undervalued relative to its peers but this is not the case since most of those peers have profits. Lode is unproven in its peer group of junior producers. Until they prove themselves expect subdued trading and a low multiple. Just trying to keep it realistic.
Long term it can still be a good stock if the metals cooperate but lode must perform and must earn profits and they have to make a material amount of them consistently and return value to the shareholders who have been raped by Winfield and Corrado's leadership.
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