Interesting to me that I needed to stay away from hotcopper due to the intense railing I received by pointing out exactly what you all see more clearly now. In fact, I was even threatened. Now, oddly, after I withdrew the most intense pro management posters went away. It seems their purpose was to threaten me and get me to withdraw on behalf of management. Enough said. They were 100% wrong and I was 100% right.
Now, I think I need to be careful on what I say here. Because I am one for calling a spade a spade. But I see a lot of posters have decided to call spades as spades.
Remember when I posted the management did not know how to OPERATE a mine. They were finders and floggers. Well, I was bashed for mentioning this. Yet, John, even now has seen the light. This mob, on evidence, does not know a mine from a hole in the ground.
Let me ask a couple of simple questions.
WHAT four days in the last quarter were scheduled for the plant down time. This four days stretched to 8 days. What 8 days were they on the calendar. Because, in my opinion, the LAW of continuous disclosure says on days 7 to 9 should have come an announcement.... we went over four days and have lost four days production - which will impact us 'x' oz. Now if those 8 days were March 23 to March 31, I guess I dont have a problem. If those 8 days were sometime earlier, then, once again, we have price sensitive information known to some, but not all. Dare I ask, was the unexplained (to us) rise in short percentage linked to this fact.
Now, you recall when I tried, in the past to link evidence to shorting, I was, once again howled down by pro management posters. So, I am not suggesting anything here. I dont want to get in trouble. I just 'wonder' aloud if the undisclosed negative info had to do with the shorting. Let us see if the shorts begin to unwind. Or perhaps they will wait for the clearly high AISC to be presented in Q1. And the possible NO profit made. Now note that John sees $95 mill free cash flow for 2015. Even after the shocker. Now $95 free cash flow on a market cap of $190 mill aint bad hey.
I wish they would do a share buy back. It seems in two years they can buy back EVERY share. Your last remaining share you bought at 25 cents (dont sell back to the buy back)... will then earn $95 mill a year for years 3 to 7 of the mine. And you can fire the fools trying to run the show. Mind you, perhaps you just relax and pick up your $95 mill and let the clowns be clowns.
Now, surely, the announcement where they reiterate guidance deserves to be in the liars court. I liked the poster who equated it to some word twisting his two year old would do. Now, either the management are completely stupid, or completely arrogant. Take your choice. The person who penned that part of the announcement is a blithering fool. And whoever published it, it also a blithering fool.
On the reserves cut back. I applaud it. Let us up the grade, cut back the cut back, and loser AISC. Mind you, do you trust the OPERATORS of the mine.
Now, I sold about half my holdings in the mid 30s. And I bought it back between 26 and 28. I sold just because I bought before in the high 20s. This share I do not know what is coming next. But I still have my initial 70 cents parcel. So I have lost a motza. Not the anyone cares.... aside from my Mrs.
I believe in BDR because they have gold in the ground. And I actually trust their skill of finding more. But man oh man they are tricksters... oops, cant say that. Man oh man... the EVIDENCE continually shows them to hold back negative info, then shorting goes ahead, then they give annoucement showing their arrrogance and stupidity. I did not know some of them are picking up between 500k and 1 mill a year for being crap directors (in my opinion). My 100k shares will be voting against the yearly report. But I am sure the pigs in the trough have enough freebie shares to vote themselves their 500k a year forever.
Oh, on the trucks. Let us not go there. 24% reduction in movement... NOT WORTHY OF UP TO DATE disclosure. Just like q3 of last year re the stripping - not worthy of disclosure. And like q1 the year before, t he weather... not worthy of disclosure. Or the year before cap raising... not worthy of disclosure.
I am only thankful that stupidity cannot dissolve gold in the ground. And at the rate they are going, the mine may last 20 years, as they are very 'challenged' how to actually get the stuff out of the ground.
I do rate this as a buy. $95 mill free cash per year on a $190 mill market cap is obscenely good. But all this means is Mr Market does not trust AT ALL the management. So, dont shoot me. Threaten Mr Market with libel and bad mouthing the management.
Oh, this will never, never change with the current management. Negative news will be hidden. Somebody will know about it. They will short. And the news will finally be announced in a two year old manner.
What we all fear, of course, is the way the company has been run for two years or so, their could be good news, and the shorters short, knowing they will scare us. So, this is a disaster without continuous disclosure. What is happening now is surely illegal and the shorters, trading on inside info, are being illegal. But as I have posted before, that is the norm for Aussie ASX companies. Insiders get advantage. Directors and management are trying to set up to get their 500k a year and free shares. That is how the evidence looks to me.
I am happy to have someone show me how the evidence does not show that.
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