PRX 0.00% 0.3¢ prodigy gold nl

Perspective

  1. 716 Posts.
    There is no question that events with ABM the past few months have been less than ideal but I think people should retain some perspective. Gold mining operations at start up are notoriously difficult. ABM have made some mistakes and not communicated well enough and they deserve to cop flak over that at at the AGM as I'm sure they will. But don't forget that although this does not look like a bunch of open pits yielding 11-13g/t anymore it does look like a bunch of open pits likely yielding 8-9g/t which if they work hard on the operational efficiency should result in decent profits with at least 50,000-60,000 oz produced a year for 5 years+.
    I doubled up at 8.4c today appreciating all the risks of what can go wrong, but also appreciating what can go right. Fast forward a couple of quarters and we'll all be in a better position to judge likely performance over the next 2-3 years.
    GLTA
 
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