GREY:OGLDF - Post by User
Comment by
sesses3on Feb 18, 2012 4:40pm
211 Views
Post# 19554523
RE: RE: RE: DELAY IN REPORT
RE: RE: RE: DELAY IN REPORT Otis has been touting the Echo Bay story for a long time, but if they aren't capable of moving the project forward effectively, it doesn't really matter. The delayed resource estimate isn't the only instance where they've over-promised and under-delivered (remember Dog Bone Ridge and the "discovery hole" they drilled there in 2010, only to have done absolutely nothing with it since?).
In any case, they were talking about "near term growth" to 1 million oz when they still expected the resource update to be done in July 2011. Now that the resource estimate will include all the drilling from 2011 as well, they'd better hit that target or else lose what credibility they have left (ie. 6-700.000 oz and talk about "expansion potential" won't cut it).
Craig Lindsay taking the CEO job at another company and seemingly trying to hide that he is also CEO at Otis isn't exactly a great sign, either.