I think the key issue here is recoveries. 46-47% is not good...

I think the key issue here is recoveries. 46-47% is not good enough. For 3 years the coy said 50-53% was readily achievable, and that was pre JC.

Now they are saying definitely see a pathway to 52% once they finally get JC in order. Fair enough if they’ve had some issues as stated in quarterly, and think they can resolve those, but ultimately there’s still an element of the promised land.

not to say macro can’t improve further, but if these guys can’t crank now, when is it going to happen? 4-6 year mine life would suggest they hop to it.