I question the wisdom of drilling and drilling and drilling, expanding the lowest levels of JORC categories, depleting cash reserves so that CRs are necessary at lower and lower levels.
Until gold production runs ahead of management projections in terms of total production, lower ASIC, higher recoveries and grades the price will continue to slide.
Gave management the benefit of the doubt until the last cap raising. Should have been unnecessary. Concentration should be on production ramp up. If production was going well management could have disclosed ahead of the CR and maintained the price and reduced the scale.
Was not impressed and have sold.
BLK Price at posting:
55.0¢ Sentiment: Sell Disclosure: Not Held
