There is no doubt a lot of us all feel that management have deceived us in thinking this quarter was going to be good. Moving on from our disappointment and anger we must ask our selves if the mineral resource and ore reserve update is that bad, taking out the iron ore which was the big hit and the juggling of numbers to make it sound better is never good, but I think the market will get over it as its not that bad for the market cap.
As for the quarterly production numbers, I like you all am very disappointed and as many of us feel we should been notified of these production issues earlier. The no cash mention and ounces sold is concerning. Admittedly the price action over the last couple of weeks was telling us all was not well. The seller who was there at 26 the other day appears to have better knowledge than the rest of us. This announcement from BDR reminds me of MML when it revealed its downgrade in resource. Perhaps we will see 19 again although I think BDR is a buy. As the attitude to gold is changing and Institutions are starting to buy again so hopefully the gold price will put a floor on BDR. I am holding and have quite a sizable amount. At these levels it is time to invest not trade this stock. I would like to think the management and directors somehow read these threads and we ask them to keep us briefed and not in the dark as you are playing with our money.
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