I am sure Justis is going to be upset by these comments - but here goes:
2015 Karouni reserves 2,618,000 t at 3.84 g/t for 323,400 oz
2016 Karouni reserves 2,874,620 t at 3.52 g/t for 325,207 oz
What this means mgmt mined mined 476,817 t at 3.20 g/t i.e. 48,999 oz
and mgmt discovered 657,830 t at 2.12 g/t for 44,921 oz
So the A team nearly replaced mined ounces with ounces of 33% lower grade. I guess they aren't in control of this either?
I note the Behre Dolbear report also highlights that capital infrastructure was never finished. Your reference the other day of coming in on budget - not really - just have finished the job. They will need another capital raising soon to do that.
Starting an u/g scoping study now. Doesn't sound like a high priority.
These jokers must go! Only IMO Justis.
TRY Price at posting:
40.5¢ Sentiment: Sell Disclosure: Held
