I sent them an email last night in a fit of frustration requesting some news on the BFS delay and new timinigs. As you can see from some of the grammatical errrors and emotive language, it was sent when I was feeling a little upset. Anyway, I doubt it will not achieve anything, but it made me feel a little better. Here it is.
Dear Ms Paxton,
I am writing as a concerned shareholder of Cerro Resources. I can live with bad news releases and any resultant SP downturn, that’s part and parcel of stock investing and the risk you take, but at the moment the ongoing delays and deceitful communications re timings of the BFS makes me feel like as a shareholder I am being taken for a fool.
I am particularly dismayed re the most recent inability to meet your previously communicated timings of the release of the BFS on Cerro Del Gallo which has now been delayed over and over again by many, many months, with the last official communication from yourselves stating it would be released in Quarter 1. (As I am sure you know it had been previously Quarter 4 last year, and before that I had been told by Tony on the phone in July that it would be out in about six weeks). I must admit I find it hard to believe Sedgemans can take an additional seven months longer than originally anticipated). Anyway, if it is as you say and they are holding up proceedings, it seems likely that at this point you should have been able to agree a final deadline with them that they can get it to you and factored in any timeline for discussions with Goldcorp to say yay or nay (given they have already given an unofficial nay). Is it possible if we are not going to get the actual study released imminently (as in five days), then at least an announcement could come out expressing when the study will come out and why the delay again?
The constant lack of meeting this deadline and communications seems to be killing the share price. I guess the market is speculating that the ongoing delay means worst case and that the mine is a no go in one form or another. It also makes me (and probably the market) wonder what chance we would ever have of meeting any sort of production and mine building schedule on time.
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I sent them an email last night in a fit of frustration...
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