I can see how it can be interpreted that way. Another way is to see it a practical, almost unavoidable response to market conditions. Neither is good though. To some extent it is a sign of imperfect judgement by AAU management given that they once said La Demjagua was expected produce a clean concentrate with high gold/silver recoveries.
Anyway, I suspect like others, I'm trying to decide what to do now with my shareholding. Pretty much everything depends on the arbitration result.
Ann: Proposed Expansion of the La Demajagua Project, page-12
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