How did Barry Klein become the ringleader on the private board?
This is the same guy who said (when apple was over $600/share) "buy apple, make money. it is simple"
GORO is lying about their low cash costs. If they adopt the new "all in" method, the world will see that the Reid's are liars. I expect the all in cash cost to be well above $1000 per ounce and close to $1500. That means the dividends will have to be cut and the compensation packages decreased.
Calculating all-in (aka real) cost is easy. It’s enough to take last quarter income statement and make simple calculation (this is especially simple for GORO because it doesn’t take depreciation charges, as far as I know).
In Q3 2012 GORO had $36.5M revenues and $7.3M net income and it gives cost as 36.5-7.3=$29.2M. This amount can be divided by number of ounces produced in the same quarter (22.3 KOz gold-eq) and result is $1300/Oz. Please note again that for other companies the calculations would involve excluding depreciation (non-cash) charges thus making the final number lower.