I agree leec, I had expected a rather more rapid ramp up, it's been over a year now and it's been slow, but there must be a reason for this, which is probably a technical one, or one that inflated previous expectations.
I'd expected more gold resource production by now, at a higher grade, but it hasn't transpired, as yet.
My gripe however is not with Matt and his team, because they have proven themselves on multiple occasions with other companies, so my gripe is rightly with the previous CEO/MD, the cut-and-run hyperbole engineer.
The lower transpiring results at Tieto's project now can be attributed to the continued hyperbole announcements by the previous MD/CEO's, who predicted 250,000 ounces a year by now, which was clearly never going to happen. So why did he persist in pushing this line, and then "cut-and-run" right before the actual real development and production profile was just about to be revealed?
As for Matt, well ..... he got thrown into the deep end, and has been doing the hard yards. He's an honest hard-working man who gives his best. Thank goodness he came on board, because the previous CEO/MD by now might have turned this into a dog's breakfast.
We can expect 160,000 ounces a year at the moment, not the hyperbolic 250,000 ounces, but at least it's all at a low AISC, so there are plenty of profits to be made still.
Always remember however, most small-cap mining company directors and hyperbole, go hand-in-hand.
I'm not following the previous CEO and his new ventures, I'll stick with Matt and his team any day.
And because of that trust, I'm going to need patience, more than I expected to have needed.
Quite frankly, if the well experienced and proven Matt and his team cannot get this project to over 1 g/t grade and 170,000 ounces a year within the next 9 months or so, then it's because the gold is not there, and because we may have perhaps been sold some hyperbolic wish-dreams by a former CEO.
Either way, the company is still worth north of 90 cents per share, even today.
Gw
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