Well, yeah, hindsight is what we all do here. Me included.
POG - you can't simply ignore it as it was lower than our cost to dig it out of the ground. That's kind of an essential piece of the puzzle.
I've long lamented Perth's inability to tap any global funds and instead go back to the well of the usual 3-4 shitcos every time. But the Junta having taken over, and the mine not being profitable to run, who TF was going to put money into that project? Nobody except gamblers at 5 cents is who. As evidenced by EVERY SINGLE GOLD COMPANY IN THE WORLD not wanting to buy it, even for $1 soon after.
We agree on management's long list of 'Didn't Do-s'. And there being a number of mysteries around the running of the mine, and how it fell over so rapidly. I prefer to take the simplest explanation which to me is 1. Pure incompetence from Cowden, Anderson and whoever was the financial controller was, and then 2. A reluctance to indicate just how bad it was going before the demerger happened - which certainly raises legal issues if this was the case.
You're saying Cowden and Anderson had long gone? I don't agree. From my perspective only, they knew full well it was going to fall over before the demerger was even complete. Those two directors didn't walk out due to bad coffee at the office or someone getting their plonker out during Friday night drinks. ...
It is a crying shame the gold price bottoming and our lowest preriod coincided. Company is dead-set cursed. Can't wait to for it all to be over.
(20min delay)