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clock Created with Sketch. 15/05/24
20:43
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Originally posted by coto:
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Well yes, it might be good for newcomers like you getting in at bargain territory, but for those longer-term investors who have been around many years, we have held through a nightmare type scenario and been down over 90% at times recently. We know how the company operates better than anyone having lived through the bad times and seeing the way the company operates with its back against the wall. Getting to that stage was mostly due to poor management decisions IMO! So, you cannot blame investors decisions because they expected a lot better with the decision making. The fundamentals were there for the company to perform very well the past few years like many producers on the ASX managed to do, and even through the covid years many stocks appreciated in price. Unfortunately, management surprised us all and took us down a different path, almost ruining the company in the process. Overpaying Cu assets at the time, undertaking a consolidation at a poor moment, taking their mind off the gold side of the business as an insurance policy, not cutting costs early enough, failing to hedge, and finally desperate funding and loan decisions which were horrible terms for us.
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Really appreciating your concise insight and input!
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