RE:Low production at a time of low prices, seem fineMrAnderson
Excellent analysis; thank you for sharing your thoughts.
Regarding the deferred production; I believe the Company’s current, positive cash position was a major factor in choosing said decision; that is, the positive cash position has allowed them to defer production of said ore.
I believe knowledge of the gold markets and the movement of the spot gold price has been a factor in management’s decision making – Forgive me for the following crude remark, but it seems the best way to describe how management may feel at times – They, management, must have felt, (and may still feel) like they are hanging by their foreskin,,,,,, over the edge of a cliff.
It appears to me that management’s balancing of all the components required to shape the Company*, (and this includes past, possible missteps and the correction of same) has brought the Company to a point that will allow a present and future balance to the extent that positives outweigh negatives; if there is a tip in the balance, it will be in investors’ favor.
*Keep in mind, some of those `components’ were outside forces, beyond management’s control – For example; predatory companies, gold price manipulation,,,