Red Lake Madsen Mine Ltd LRTNF

Still no update

[thelostarc]

On the operations, how many tons and the grades they are pulling out. While Maryse was in charge, mining mattered. Now that Maryse is gone from the operation... after less than 2 months on the job... we don't get any more mining updates. 

Without information on tons and grades coming out of the mine, it is impossible for anyone to tell what's going to happen with this company. They are burning cash... fast... and if we have to do another PP we will know that they won't be able to get this mine to steady state production. Ramp up is now slated for the end of 2022. Isn't it something when a company slips in delays and missed deadlines as notes in the investor presentations?

Management should really do more to regain the trust of investors. Timely news releases about production would go a long way.

[kirk15]

stop right there, you say "Now that Maryse is gone from the operation... after less than 2 months on the job... "  please prove where you come up with this.

[thelostarc]

Since Maryse Blanger assumed the role of Mine General Manager in November 2021, several operational improvement initiatives have been implemented at the Mine. These changes are expected to have a positive impact on both short-term and long-term operational performance. February 17 news release Maryse Blanger stated, “When I took on the role of Mine General Manager in November 2021, my mandate

[kirk15]

I see nothing that says she has left in your posting.

[thelostarc]

Has Maryse not left the operation? It would seem she no longer has an employment relationship with the company (considering a board member would not be considered an "employee")

[kirk15]

multiple times people (perhaps you) have posted that she has left the company, when asked last week by another poster IR confirmed she is still with the company doing what she was hired to do.

[Scanner454]

she sits on the board of directors

[RdlBama]

kirk15, You nailed a long time ago when you said IR is poor. Not only do investors need an operational update but also investors need a personnel update. Are the new hires onsite or in Vancouver riding horses with Labrenz? What is Belanger's status? Why is the new CEO Troy so weak? Transparency is always a good thing.

[kirk15]

the typical IR person these days thinks their job is about disseminating news, and answering investor queries. Then you have a rare few who can pick up the phone and connect with players who write buy tickets of significant size, its a dying breed. IR for PGM are just mouthpieces (my experience), they should represent shareholders to management, and I get no sense that they do this. My take is

[thelostarc]

I have never said she has left the company. I said she has left the operation. If she was hired as an MGM, and now they have a new MGM, then tell me, what is the title of her role on site? It would seem from the Feb 17 news that Byran Wilson was appointed VP MGM... Maryse is back to being a director, with no hands on involvement on the mine site/operation. They brought her in from board to MGM to

[thelostarc]

There is just too much turnover here... why is it that no one wants to stick around and actually complete the ramp up? Q4/2021... then H1/2022... and now H2/2022. The complete disregard of management for shareholders is criminal... reporting ounces poured instead of ounces produced, manipulative news releases... when is Anglo going to step up and discipline this management team? We have a mine

[Fredfudpucker00]

Speaking of turnover, can anyone tell me if they are having a hard time retaining miners ,or have the right compliment of miners to maintain the tonnage needed at the mill?

[thelostarc]

I can say that they seem to be hiring at the head office in vancouver... salary dollars that could be going towards incentivizing miners in Red Lake and hiring more mining and mine support staff. Do we really need a new, slick IR mouth piece? There's what $100k to $150k? Is this just someone's friend who needed a job? What is this person's purpose.. if not to be in the mine helping to