I had sold at 0.30 average in the relief rally post financing for an overall small loss. My error with this stock had been to establish my initial position early 2014 when the Namoya mine was already supposed to hit commercial prod in May last year, around 0.40.
As of now, I am waiting on the sidelines and have no intention of buying the stock given the current circumstances. This may change based on evolution of the situation, but I don't think so at the present time. Only a massive positive surprise on the production/cost side, or strong gold rally would make me change my mind.
For Q3, I expect the production report to be between 40,000-45,000 oz, so somewhere in the low 40's, and so possibly lower Q/Q than Q2, and I expect the co to have approx. 5-10M cash + bullion inventory left, including the 16M recently raised, possibly closer to the 5M figure, as I thought the company would be ~10M short in cash this quarter (that is if it did in fact go forward with its truck fleet purchase at Namoya and didn't cancel it).
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