I'm not sure who raised the concern about past management, but management was the issue that made the company so cheap. We bought a dud mine in Dragues, spent too much money quarter on quarter, and had more problems like hoist breakdowns etc that became a convenient excuse for said management's failures. There were always excuses! We crashed from a 63c share price to 9c. However in November 2022 the CEO resigned and since then the Board has had a shake up, new CEO appointed etc, We went from a largely non-holding Board to one with a decent amount of skin in the game including Mr Brazil. The company now has a recent history of more disciplined spending, better planning of mining and milling to optimize income and minimize wastefulness, it seems better worker relationships including using our own miners, and so it goes. The slow death under previous management has been turned around to a steady re-build under the current. We've now had 18 months of disciplined performances from our leaders not the least being a substantial improvement in our financial position despite the high capex spending in bringing Federation to fruition. Importantly also, we've returned to a full exploration budget (the latest NW Federation find being a product of this) which is helping to guarantee a long LOM - Peak and Federation both stand at close to a decade and the latest drilling at both suggest there's a lot more to find. Short term we'll do well to get Federation running while we look to have preserved our cash, medium term Federation and Peak will provide healthy profits, longer term we had the vision to explore for more, obviously with an eye to starting up Hera again once we have the finances to upgrade it, and the feed to run it and Peak to capacity. It looks to me like our current management (as displayed over the past 18 months) knows what it is doing so it's my view those departing now are departing prematurely.
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