I questioned him on the following line from the report dated 19th of February
quote" This has been resolved and a newly designed mill bit has been adopted, which has resulted in an increased production rate"
this statement in my opinion can be seen as misleading, as it sets the expectation that newly designed mill bit will lead to higher milling rates.
we are yet to see any evidence of this claim, it will 21 days since last announcement that means that milling rate will in fact drop to 8.6 foot per day, I do not see how this is an improvement on the previous mill bit recovery rate.
he eluded and could see how this statement could be viewed as misleading.
however there was no hint that the intended annoucement will be positive or negative.
I personally think that we are in for more 1) delays due to damage to casing and also 2) delays due to roughly about 30-40 foot of recovery left remaining.
My expectation is I cannot see a full recovery occuring.
GDN Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
