It was a huge ramp up, and management are shocking, at least...

It was a huge ramp up, and management are shocking, at least from their reporting and transparency. I do not know enough about the issues to know if it is their execution that is at fault or the quality of the assets or both, but good management should at least have foreseen this I think. Is it better if they are incompetent or dishonest?

The question that got me interested after reading the last 2 quarterlies again side by side was, just how much more can even incompetent or dishonest management fail to dig up the ore? The expense in open pit there seems to be the waste removal and there just isn't so much left to remove. There could still be issues with the plant and processing the ore. I much prefered reading those details in the quarterly than an AISC that would be embarrassing but not really tell me anything about the rest of the year. AISC only have meaning for me in miners that have my respect as an investment for the longer term, not for BLK.

BLK could be dragged under financially, but surely those holding the loans will be watching operations on the spot and if they see that the ore is still there, there best chance at getting paid is to dig it up if there is a chance. If management is bad and has soured the experience then pull the funding after the current operations are finished sell out and forget the expansion financing.

I don't know if this is overly optimistic, but I see a chance there short term at least.