Ann: Third Quarter 2014 Operations Review, page-4

"Why the carnage here?"

Interesting question. No explanations has yet been proffered by anyone, so I sent an email to Rick Sharp CEO on Wednesday seeking clarification of some matters following their quarterly report. I expect a response, because I am not suggesting management has not been good.
I was amazed when AMP dumped this stock at $1.50. They appear to have got it right. Was it the result of problems they can see, that most of us mortals are missing?
The market capitalisation is $121m, their 50% share of capital expenditure on Grand Cote was over $325m and the NTA is 4.67c a share. Commissioning issues are expected and should not be fixed in a timely manner.

Why such a massive devaluation?