Well I guess that explains why the CEO hasn't bothered to purchase any shares.
They missed guidance by a mile and the many millions of dollars spent on 'upgrading the resource' resulted in a reduction from 4.1 million ozs to 3.76 million ozs, if I read this correctly. They have reduced 2013 guidance to 85-95,000 ozs. It'll be over a year until the Hinge (early 2014) and 007 (later in 2014) are contributing significantly to production and even more (late 2014 to early 2015) for the old Rice Lake Mine.
In the meantime they need money for development and exploration so either heavy dilution at these levels or a large debt facility.
Can there be a clearer definition of DEAD MONEY?