Proof of stupidity in communication by Vinnie3 The fact this stock is going down like this is the market just shows how this managment has a bad report card (company loses 500 million in value vs 30 000 ounces of gold less at the mine worth 3 million year at 100$ profit per ounce.
Their communication is so poor that I shall demonstrate how stupid it really really is: This will result in a reduction in the recoverable leach pad inventory by approximately 40,000 ounces of gold. They should have explained what that means monetarily, is it just for one inventory pile, is it forever?????
In light of the lower recoveries, the Company is revising its 2017 guidance for Kisladag to 170,000 to 180,000 ounces at cash costs of $500 to $550 per ounce. Guidance for 2018 and beyond is currently under review. This is so stupid because it gives no indication of the possible size of the guidance review in 2018, they have the numbers , they should have said words like 'within a range of' or relatively low significance , stuff like that....plus they should have emphasized more it is just this quarter for now and indicate the importance , RELATIVELY SPEAKING, FOR 2018,
Further metallurgical test work on heap leaching is ongoing to determine the extent of the materiality of the impact on gold resources and reserves, and possible implications for the carrying value of the mine. Extent of the materiality is another moronic DRY thing to say, writtten by lawyers B UT SHOULD HAVE BEEN NUANCED for this type of thing, again carrying value of the mine sounds like the whole place is cursed. Bad bad bad bad bad wording that could have been nuanced and indicate some semblance of the magnitude - they are lazy and are letting their outside law firm dictate words that are NOT required for this level of materiality. Think about it, this stupid wording cost the company 600 million dollars when more detail on the parameters of the loss would have reduced that for sure. They are so dumb and probably illegally publishing something as being super material and that too may be against the law.....not just underreporting, overreporting or giving too much weight with misleading importance , that too is probably not ok!!