In any executive meeting the first numbers to look at is the TOTAL weekly production aand Quarter to Date production numbers.
If TOTAL weekly production aand Quarter to Date production numbers, up to scratch, ECOWAS and higher cost etc will be glossed over.
However to state on the 17th June -> looking at production up to 12th June estimated at 10,000 ounces (1,000 ounces a week to reach 13,000 for the quarter - a Quater has 13 weeks).... that any single one of them thought FFX can produce 2,000 ounce a week is laughable to get close to 16,000 ounces (still a miss 17,000 bottom of the range but not earth shattering with some spin).
Also note: FFX nameplate isnt even 2000 ounces a week at this stage, what were these people smoking!
The Resignation of newly appointed directors less than two months is scary. ie nothing about this production miss would have been put on them, they would have seen opportunities opening up with heads rolling but they decided to resign!
FFX Price at posting:
20.0¢ Sentiment: None Disclosure: Held