Obviously management when they said results would be in by the end of November, would have relied on an estimate given by the lab. Therefore, they mustn't be too far away. How wrong could the lab be in their estimated time, unless people are saying the company lied which cannot be the case?
My impression from management is that they are indeed poor in their communication. At the same time, they seem to be working on things in the background and could surprise on the upside.
For example: Who expected a substantial increase in land concessions? Who expected outstanding preliminary results at Las Huacas?
Yes, I agree that people could continue selling but IF results are good, there will be little resistance on the upside.
In the long run, the company will probably need to create some on-site lab capability like Kingsrose has done.
PRA Price at posting:
27.5¢ Sentiment: Hold Disclosure: Held