The presenter here is Bruce Kendall, their Chief Geological Officer. Kendall seems to have a respectable background as a geo, and I believe that he has only recently replaced BLK's previous Chief Geological Officer. It would not surprise me if Dixon either sacked or demoted the previous geo for the stuff up with grade dilution at the pit and problems interpreting the drill results from the underground ore bodies they were mining.
Perhaps things will improve over time, but I suspect they do not have the money to work through the issues while they pay off their main loan and also spend a heap on drilling. Their pit waste to ore ratio is pretty high (but expected to be lower near term), and every time they need to do a cut back (or major waste strip) a heap of cash has to be spent that is needed to repay the loan.
loki
BLK Price at posting:
21.0¢ Sentiment: None Disclosure: Not Held
