No one likes a loss but as far as I am concerned they were dammed if they do dammed if they don’t. I think they managed it fairly responsibly. C&M does cost money, ramping back up does cost money. Not sure of the cost difference, Maybe it’s the lefty in me but I’m happy that they looked after their work force, suppliers and other contractors. I believe a mining company does have some responsibility to the community that they are involved with. No community wants a big ugly mine next door, but a big ugly mine that looks after it’s community when times are tough is more easy to stomach, I’m sure. These workers have families, mortgages etc. it’s not just dollars and cents sometimes. Sure they need to look after their shareholders, but maybe being good corporate citizens does look after us in the long run and just maybe there is something to the keeping up relations with the greater industry also. Hopefully we can look back at the net few million loss compared to C&M and see that it is worth it in the long run or maybe I just see things through rose coloured glasses, not sure. Helps that my other investment is doing well and that we have risen back from the miserable lows.
GXY Price at posting:
$2.68 Sentiment: Buy Disclosure: Held
