Your fourth point is interesting and something which I didn't know and you've obviously found out by contacting the company. So why didn't they tell us this in an explanation in the announcement? Why didn't they make the 'already late announcement' a little bit later to minimise the damage by doing more work on the missing data??? Why oh why on earth, if they weren't happy with conservative Snowdens did they not seek a second or third opinion from another resource estimate consultant????? Was this done? Why not if the data is missing, redrill it, get it right and then not release such a pitiful upgrade which they must have known would've been crucified by the market?
Stuart Hall should have been doing this but I fear maybe he and the rest of his board mates got a little bit of Horseshoe Metals stuck in their eye and didn't spend enough time on the Papillon butterfly in the room.
1.76g/t is economic to mine absolutely loki1 and 71c4 but the profit margins are not there as much as a 'walk with giants' 3 - 4g/t orebody. If you have a big enough resource, large mill, a lot of this will be free dig, yes its economic.
What's disappointing is the loss of momentum and credibility of management has been shattered. Will we, should we believe anything they say from here on in?
At the end of the day its their reputations and our money which has been lost.
Bonne chance tout le holders.
PIR Price at posting:
43.0¢ Sentiment: LT Buy Disclosure: Held
