AXG - Antipodes Gold [formerly GEL - Glass Earth]

[Flugenbear]

I have to admit after reading the report my confidence has taken a big hit. One concern I have is the gold price was actually pretty good in Q1. It did fall a bit in Feb/Mar, but still averaged above $1600USD. The big fall came in April and since then averaged a bit over $1400. The USD has strengthened a bit the last few weeks, if that continues will help, but there are certainly a lot of things that need to line up in order for profit to flow.
Encouraged to hear you think the 24/7 will make a big difference. As you say that will be tough through winter.
I guess we have to hope for a recovery in the gold price and some USD strength.
Suddenly feeling I am holding too many shares!

[elZorro]

I have to admit after reading the report my confidence has taken a big hit. One concern I have is the gold price was actually pretty good in Q1. It did fall a bit in Feb/Mar, but still averaged above $1600USD. The big fall came in April and since then averaged a bit over $1400. The USD has strengthened a bit the last few weeks, if that continues will help, but there are certainly a lot of things that need to line up in order for profit to flow.
Encouraged to hear you think the 24/7 will make a big difference. As you say that will be tough through winter.
I guess we have to hope for a recovery in the gold price and some USD strength.
Suddenly feeling I am holding too many shares!

I had a look at the insider data yesterday, Geoff Loudon hasn't sold any of his GEL shares, and he has over 12 million of them. Mind you, it would be hard to move that many.

I agree with you, I wasn't expecting great profits in Q2, but I was hoping for a good positive cashflow in Q1, with the gold price being up at $1600. It's taken them quite a while to figure out that Drybread holds the key to investor confidence at this point. We're happy to wait for the hardrock mines to work their way through, but as significant funds and effort have been used on the Placer gear, it's very important that we can see a return, and not a loss. It's not as if they can hand the gear back and recover all the wages, lease, R&M costs to date. They have to find a way to make it work out. I'm sure that's possible.