Correct. And in isolation this is the correct call - no point continuing a mine that's not profitable in the short term.
But it's another blight on Dan Cliffords reign. Our captained was steering the ship in iceberg waters; saw the iceberg; powered up the engines; and drove straight into it.
It's not until we're sinking that the alarms get raised....
Better management required to avoid these scenarios, this should have been obvious to see from a long way out. Writing was on the wall with that last quarterly but management still seemed convinced they could milk some additional cashflow out of it by cherry picking the resource. Now it seems like a mad scramble to turn the lights off and send everyone home.
Very very poor forward planning and it will cost us some continuity in workforce and skilled labour for ramping up Federation.
AMI Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
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