BLK EV and Valuation, page-4

First 4 Last

Share
Profile

Follow
M0ntg0mery

806 Posts.

205

30/10/17

17:23

Post #: 28322508
Share

Originally posted by spartan300 ↑

I am all out at 17c, good riddance to this grand scale disaster!

Who is buying??

I hazard to take a guess that it's either traders whose TA signals to them it's due for a bounce?

Or it's people who are still fooled by the 6.5Moz. This is what I think causes some people to still keep the faith. It's a very impressive number for a gold resource, I don't think anyone can argue with that. So for those who still believe the fairy tale, this is an excellent opportunity to average down, is it not?

But if the grades are imaginary and it costs more to get it out of the ground than what you can sell it for, then the size of the resource means nothing!

CashedUpBogun has been repeating this like a mantra because this is the very ugly and inconvenient truth!

None of the believers seem to have realised that the average grades spruiked for this 'grand resource' relies on the much higher grades of the underground.

Well how is that going?? So if I'm trying to protect my 'story' I have to make up the lost grades of the underground. The only way to do that is to try and find higher grades in the open pits and tell the world we still have a large and quality resource.

No mention of how much overburden has to be removed to get to those higher grades and at what cost?

If there was hope of turning things around, things would be handled very differently:

1. They would openly report the high AISC and explain why it was that high
2. They would explain what they're doing to fix things and when they anticipated that things would improve.

Wait a second... They already did that!!!

So now that things didn't turn out as promised, what should they do next?

If there was still a hope of turning things around, then I would expect that competence and integrity demands further honest explanation, no matter how inconvenient the truth.

What do we get instead? A consistent modus operandi of announcing improvements in the resource and timed with the intent to soften yet another abysmal quarterly.

The last quarterly so bad that they see fit not to publish an AISC and when pressed by a shareholder as to why they say 'we thought it was obvious from the figures that were published'

Really?? Seriously??

Here's an assertion: This kind of behaviour is not consistent with honesty and transparency!

When all trust is gone, what's left?? Dumb luck??

I'm done!

Expand

Quality post spartan. Might I add that it's not just CashedUpBogun that has been suggesting warnings - there are a few of us.

GLTA & DYOR

BLK Price at posting: 16.5¢ Sentiment: Sell Disclosure: Not Held
3 Upvote

0 Great analysis

Reply

Top Stories

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

RAD

Smallcap Radiopharm notches +12% jump on pancreatic cancer imaging win

NAB

NAB dips 1.8% as ASIC take bank to court for ignoring hardship applications

ESR

Estrella's exploration model in Timor-Leste pays off with 2 new manganese discoveries

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing