The biggest problem we face as shareholders is towing the fine line between demands of management and patience. We have all had our fair share of grievances, many of which are valid. But at the end of the day, things have been done here systematically. Ron and co are trying to create a sustainable base for a long term operation and this often means making some decisions which are divisive. It is easy to be critical but the fact is that none of us have operated a mine or worked in a senior executive position comparable to Larvotto's. While the plant has done most of this before, as per Ron, the territory the company finds itself in is still uncharted. In their shoes, we would want to secure our own futures too. The jigsaw puzzle pieces are coming together. Community aspect seems to be working, exploration might not be blowing out the lights but it is increasing continuity with much more potential to the upside, financial metrics are still intact, permits are soon to be finalised with financing and from there it is all systems go. Plant upgrades, resource upgrades, commissioning, ramp-up and first ore should see the SP multiples of where it is now.
With regards to today's announcement. It is pleasing to see high grade mineralisation in close proximity to existing stopes and infrastructure. Any further high grade shoots just means more easy to access (and cheaper) ounces.
Not investment advice.
Cheers, PS
LRV Price at posting:
67.5¢ Sentiment: Buy Disclosure: Held
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