Find8, it's not just that they've over promised, they have consistently over promised and they continuue to over promise to this day. The phrase 'over promise' is sounding like a euphemism.
Also I'm not sure that "we all know that they have over promised". Those new to the stock, such as zooma, might be unaware of how ingrained this practice is.
Following is a quote from Mark Lynch in the same 2004 Annual report. He's been a bit cannier, and while mentioning the 40,000 ozs per year rate has just said that it is "scheduled". Scheduled when? Obviously the implication left hanging and meant to be absorbed is 'soon'.
"WARRIOR GOLD MINE
The Warrior gold mine is the first mine being developed under the Gold Production Plan. Work commenced in late 2003 calendar year. Gold production is scheduled at 40,000 ounces per year with a planned minimum ten year mine life . . .
. . On successful completion of the 8 month development program, the project can commence gold production."
Mark Lynch
2004 Annual Report
CTO Price at posting:
33.0¢ Sentiment: LT Sell Disclosure: Held
