RE: RE: A few reasons to vote "against" management I know the options are given a dollar value. It's because they have value or will theoretically at some point. When the price goes up those options will likely be cashed in or bought and held until such time as they are sold.
So they do indeed have a value which is why they are accounted for in the financials. It all goes to compensation. $300,000 now and a million or so delayed. The options may end up being worth considerably more than their face value too.
So they still count as compensation no matter how you slice it.
Even conceeding your point, nothing else I said about Dmm changes and management should still take a 70% haircut like their stock, and their shareholders, did for this year.
My statement about Dmm's ability to go to full production to my knowledge is not false. Unless Dmm management is useless, after 2 years of operation they could have chosen to do what needed to be done in order to go to full production. With or without the concentrator.
It's a matter of semantics. They say they can't go to full production because they're not ready. Well of course they're not ready. They dont want to be ready therefore they are intentionally not doing the things they need to do to be ready.
Do you think they couldn't have accessed the resource by now and been processing it had they wanted to?
So we get the old "ramping up" story which seems to soothe those eager for any answer. Even if it doesn't make sense. Dmm's been "ramping up' for about 2 years now.
Of course they've got to show something for 2 years of work so being in a constant state of "ramping up" deflects, at least for some who would still swallow that bull, criticism for not being in full production and allows them to continue to delay.
Everytime anyone has phoned for the last 2 years it's been the same "ramping up" story. I think they've managed in 2 years to "ramp up" production by about 150 tonnes. At that rate it'll take them 10 years to get to full capacity. LOL.
The ramping up excuse is nonsense.
They could have added the concentrator years ago.
They could have finished the declines and have been processing resource instead of processing decline rock.
They could be running the plant with no concentrator as a couple of months wouldn't make much difference.
They could have been doing a lot of things to ensure full production but they haven't.
Which is my point. They've been sandbagging for quite a while now and worse, won't tell us when the sandbagging will stop and full production will begin.
Considers that at less than half production and with poor rock they were only slighty in the red. If Dmm were to go to full production or even process actual resource a "sustainable budget" would take care of itself. So that arguement doesn't hold water either.
Fact is they don't want to go to full production or anywhere near it and they don't want to tell us why.
End of story.
So ya, I'm frustrated but my blame is not misplaced at all.
Dmm is sandbagging plain and simple. We don't know why [we think we may know why and there are certainly no shortage of theories why but no one knows for sure] because like usual Dmm refuses to give us information that we, as shareholders, have a right to.
Unlike you, after dealing with Dynasty's reluctance to provide accurate and timely information and having information intentionally withheld by Dmm mangement, I think it foolish to believe anything IR says over the phone.
If they won't put it in print it has no value.