Dan,
My gut feeling is they are just plain incompetent. They took their eye off the ball and the company nealy went to the wall. I believe MACA will do the job and turn the mine around it is a great resource in a fairly stable country with currency and labor cost advantages. It will be time to 'get off this horse' when the mine is running well because current management will blow the money after that...IMO.
Cheers
Move that dirt...
BDR Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held