RE:What went wrong at KLbob333666 wrote: A few days ago I said what a great producer and explorer KL was, and still is. Now it is time to say what went wrong and better get fixed. Detour may turn out to be a gem, but should not have been bought, if it meant that Tony took his eye off the ball at other mines. Instead Pure Gold one of Jin's favorites should have been bought. Earlier in the year maybe 200 million could have got you a high grade mine ready to go into production in Northern Ontario. A mess at Fosterville. No prs from Fosterville for 2019. Surprise surprise. Even Eric Sprott talked about a mess that was done in 2019. Now we need a 4 and half km ramp and 3 years to build it at Robbins Hill? F that!!! Just drill down to see if it is another Fosterville and truck the gold to the mill. Tony stop acting like a rich kid with a trust fund. Holt Hollaway. Disappointed with very little drilling in 2019. KL bought into the Urban Barry area just across the border with Quebec on the same trend, but they don't like the Ontario side, which they already own? Crazy. Six to eight drills should have been brought in to drill deeper. With so many mines open and closed on their land there, Kl probably would have found a deeper fault just like at Macassa and many other Northern Ontario mines, the show that the deeper you drill the higher grade you find. If there was a royalty problem, I thought that they fixed it, and if not then fix it now. They were supposed to do 200 thousand ozs in 2019 at Holt, not much less than Macassa, so KL should have spend the money on Holt. Cosmo, either bring it into production or get rid. I also don't like buying 10% of this company and 15% of that company. Either buy the whole d@mm company or nothing, like I mentioned with Pure gold, however that was before the Detour purchase. Having low reserves doesn't bother investors. What investors want are lots and lots of free cash flow which made KL, and higher and higher dividends. Many producing mines have low reserves because they are always taking ore out of the ground every month. KL had low reserves before Detour. Did it bother our stock price? Did Tony make great decisions because Eric Sprott was around before? Start fixing things Tony. IMHO
Bob, I feel some of your pain but can't understand your criticism of Tony. They apparently did a lot of due diligence before deciding to buy Detour! I'm sure that decision wasn't strictly Tony's but the boards'. Yes there were a lot of miners out there that had 400K production, or more, that KL could have bought with what they spent on Detour (TXG and Pretium, for to mind, although the latter has credibility issues) and I'm sure they checked them out, including PGM!
Unless you have some inside knowledge your assessment is unfair :-)) !