That was clear from the previous 'cost over-run' announcement.

Barrick did not just say they are not buying any more, they are actually putting the 'for sale' sign on some projects.

I will repeat what most people (in the know agree on), projects selling in the next 2-3 years will be low cap, high grade projects, no ifs buts or ands.

The water issues is like the tax cuts discussion in the U.S. it will affect the economy of the project but not by much, they need to find an engineering study to cut that Cap by half, or just do a study on the top piece and take a good hair cut on it with an option on the rest of the deposit.

There was a point when I thought 12$ was a good target, but with the Barrick news of last year, this is definitely a 3-4$ stock at best so the risk appetite for it is not high at this level.

As they dpeleate cash, a better entry point will happen, I do think maangement is good but that is just the nature of the deposit/market.