Shorts Position, page-22

The thing I find interesting from your post is the fact that whilst you have identified RSG's head grade is much higher than what BDR has been achieving and material movement is considerably less their cash costs are $30 higher than what BDR announced for the Dec Qtr, suggesting their mining operation is quite costly. BDR are looking to produce profitable ounces, i.e. get head grade up, whether that be duckhead, a more strategic mining plan or using/finding other high grade lodes. What happens to RSG if head grades and POG fall? Trusting an increase is possible is not really that different to trusting the status quo will remain?