I like a lot of others here have lost a lot of money at this...

I like a lot of others here have lost a lot of money at this point. The lack of reconciliation with guidance is as big a mystery to management as to us. I do believe that, after talking to both Brett and Mike Etheridge. Both have been in the game for 30+ years and said they have never seen another example of a discrepancy this big. However playing the blame game gets us nowhere. They are still at a loss to explain it. Was it just a fluke that a higher than normal "strike rate" occurred in the original drilling? That's the problem with this type of deposit. Averages don't always work out. It was all independently verified remember.
The other question is, me being an eternal optimist, can recovery increase naturally? Perhaps it can.
notwithstanding that, Brett said that he will not mine deposits that are non-profitable. In other words, he will get the recoveries up by being selective, though shortening mine life. As was pointed out, Old Pirate only had a 1 year mine plan. All in all we will see improvement in the short term while they work through a new mine plan and possible direction.
One thing I have confidence about is Brett being able to come up with a workable plan. He is not a spruiker, has a good understanding of the deposits and challenges we face. I think we are lucky to have someone like him in charge.
From snippets I picked up after the meeting, they are almost certainly looking at joint-venture arrangements to extract the inherent value in their extensive holdings. This was probably always going to be a future direction given the area they control, but I think that part of the agenda will be brought forward sooner than originally planned.
We may have hit a roadblock and had a big setback in time, but I think we are far from over the cliff.

Good luck to you all, I share the pain and devastation at the current share price.
PB