KDX - Lacking Discipline and FocusWell, there is not much to say about Klondex that has not already been said on this board. I am not sure how much more bad news is expected but given the track record, it would not surprise me in the least.
Having said that, at these levels, it is starting to look attractive if you believe the assets (Fire Creek, Midas and Hollister) have a future. I must say, it would be very easy to conclude otherwise based on the multiple missteps and extremely poor communication throughout all of 2017. The shorts had this figured out long ago and they still hold over 20M shares shorts which suggest to me, they expect more bad news from Klondex in 2018.
Klondex has an uphill battle to restore confidence and that will only happen if they can get a handle on production and delivery. They need to make some significant changes and make sure they deliver on all 2018 targets. Fire Creek is a tremendous asset worth more than the entire market cap of Klondex today. The recent news of Open Pit potential at FC will only enhance its attractiveness as an asset. The Hollister mine is not worthless, they should be able to address the grade recovery issues and the Hatter Graben resource will hopefully prove its worth. Midas has the Mill that processes the ore and that alone is worth US$80-$100+. True North is on C&M and did not deliver as anticipated as it needs to boost grade and do more work to build up a mineable resource, but that is going to take $ that Klondex can spend more effectively at the U.S. mines.
Klondex has a credibility issue that will take time to repair unless they are prepared to make significant changes immediately. If the share price drifts lower, it becomes vulnerable on many fronts. The clock is ticking.