NEWSNew presidents always feel their way through a company and often times there are personality conflicts...I wouldn't read much into the resignation. There are still 4 perfectly capable board members that are well versed in mining...the one that left was an academic (a Dean of a University).
As far as the real news goes, it's quite positive. If the company can ship almost double the grade and less waste they are likely to save (by my rough numbers) almost 40% of milling costs. So the old 20 dollar number for cost of prduction gets reduced significantly (which means at 23.50 this thing could still work well).
I highly doubt that the company is going to let the price wallow for long here. I believe the thought is that most of the weak .08 paper is almost shaken out and the stock will clean itself up. Cheers.