Excellent post, spec. For me the big picture in the qtrly is...

Excellent post, spec.

For me the big picture in the qtrly is about whether the BDR glass is half-full or half-empty. I see it as half-full, same as atomic's and your positions on this issue. I believe there are other posters on this camp as well. So why is it half-full for me?

On the one hand, it is prudent to review and analyse a CEO's talk against the subsequent walk and results. But I have accepted the fact that I cannot expect to be told everything that I feel I should know for improving my investment decisions. It just won't happen and that's simply because people in various positions of power have different and competing priorities and constraints. Those of us who hold executive management positions will see such tension almost daily and are sometimes cautioned by consultants that discretion is the better part of valour. No doubt, SJ and team will have to deal with their share of competing priorities, constraints and associated tensions.

On the other hand, it is also about me taking a reality check, or managing expectations as spec expressed it. Atomic reminded us in his recent post the length of time needed to turn around a troubled mine. Spec summed up above the milestones SJ and team have achieved since they came on board 2 years ago (btw, in his presentation SJ should stop referring to his team as "new". 2 months is new, 2 years is not.) Other posters here have also contributed helpful check points for our consideration.

Ultimately, all of it is still a subjective process. I can only hope to reduce the subjectivity by eliminating the emotional element: not to fall in love with the shares, but not to get angry at them either. They're just tools for making a bit of money. I have chosen my tools and shall soon know whether they are up to their financial task. Good luck, people. R.