Sorry guys I have to say this. I can see why James limits his public appearances. This was his first in 18 months and I hope it will be his last. Compare it to the excellent, upbeat, positive and strategically informed presentation that Bruce Kay gave last year and at best this was a wasted opportunity by James and obviously for CYL. It was bland and lacked detail and vision on all of CYL’s assets. The first 2 minutes was good and was warming up well but then it descended into scaring potential investors off by introducing ‘negatives’ into his delivery like ‘unloved gold belt’, ‘many people have a different view of Plutonic’ (who gives a hoot what other people think, we love it we own it) ‘inherent debt’, ‘clean up merged balance sheet, problems needed to be sorted out‘ (once again debt and BS gets mentioned for the umpteenth time ‘resource and foundations needed to be sorted’ , ‘ we don’t think the Plutonic mine (which has been going on for 35 years) is going to stop because we purchased it!’ WTF, CYL have over 40 years of drilling data that to duplicate would cost up to $120m but in the ‘last 12 months we have been scrambling to work out where the best drill holes needed to go’, ‘however we THINK it is going to continue to produce’. This is not confidence building from a potential billion-dollar gold mining company exec.
Also compare it with the CEO of peer EMR (that has despite producing a similar 110,000oz per annum has $2.65B market cap!!)https://vimeo.com/986179115startling contrast that highlights the difference between a merchant banker VS mining geologist CEO.
So, in summary Jame’s presentation had 3 minutes on the positives and 8 minutes on dwelling in the past and introducing ‘negatives’. The old adage ‘that those who dwell in the past and fear or are uncertain about the future, miss the present’ does IMO apply here. Opportunity missed.
Regardless I will leave on a positive. James best line was that CYL is ‘on our way to being a 200k oz annual producer’!
(20min delay)