OGC 0.00% $2.20 oceanagold corporation

I might be obliged to give you the benefit of the doubt Sentia,...

  1. 5,175 Posts.
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    I might be obliged to give you the benefit of the doubt Sentia, but don't forget they reported at the moment that they only have 1 fully operational mine, 2 on care and maintenance, and the other sees 85% of the workforce down at the moment also, courtesy of COVID-19 and other factors.

    So really, only one mine running, out of 4. In my opinion, this makes this corporate structure too expensive and redundant. There is a lot of nice touchy feely excessive politically correct stuff going on here, lots of meetings and coffee drinking types, lots of phone calls, lots of talking, all trying to make themselves important, but it just doesn't cut it for a one production mine company - there's way too many of them, and it's costing the company.

    I believe they need to come back to a more pragmatic approach, and concentrate more on the bottom line. They should leave all this wishy washy middle management stuff to the truly global heavyweights who can afford to financially carry that level of redundancy, and for the moment, know what they are, and concentrate on that.

    Reading their report, actually made me laugh, because this level of excessive management for one (1) operating mine is slightly humorous really.

    Don't get me wrong, I like the company, but in my opinion, they really need to define a small core group of highly efficient and competent expertise within the board and management, and trim the fat. We are not talking about BHP here.

    Gw
 
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