I honestly think this to be a storm in a tea cup and after...

I honestly think this to be a storm in a tea cup and after reading the announcement, my mind is a little more at ease after spending the last several days reading a few of the clapped out assumptions and speculations being thrown around.

Here's what I think has happened:

Mike got his hands on the $100 million + in funds and went to town not paying attention to global events and how they may impact the company. We burnt through an obscene amount of money for not much gain and the rest of the board turned around and gave him the boot (mutually of course lol!) for his p!$$ poor management.

Whoever has taken the reins now, Taplin or AC, has put the company into damage control. Concentrating on getting as much gold out of the ground as quickly as possible, for as little as possible. Which should have been the priority the whole time. Why we needed 7 rigs spinning simultaneously, burning through cash, when we already know there's enough gold there for 10 years is beyond me, but I digress.

Management have a lot to answer for, for this cluster**** but I feel this is a major wake up call to the BOD. End of the day, golds there, fundamentals haven't changed and this is far from our first rodeo with this company. Short term, this is going to suck, long term I still feel it's a winner. BOD just need to pull their finger out and get stuck into mining the super pit.

All in all, good riddance Mike and dont forget that the Board have a tonne of skin in the game aswell.

Cheers

All IMO, DYOR