A Reasoned Assessment Well said. From CEO boards. BTW, peso getting its bottom handed to it.
@bedrag Trying to take a step back for a moment. Net net this is positive News. Obviously the initial operations startup plan was to maximize volume and thus ounces mined at the end of the day, anticipsting a stronger silver price environment in which growth in production would have been rewarded by a higher agate price. The market landscape changed however and focusing mainly on ramping up ounces combined with higher than expected costs (see strong peso) and lower than expected silver prices (they would reasonably have been expecting $25 silver by now and not $20.85) has not been a successful recipe. So now they are making the tough decisions. They are changing focus to costs and to heading toward profitability more quickly whilst sacrificing pure volume totals. They are likely looking with an eye to limiting future dilution while share prices are under pressure too. If and when the metals landscape improves, they can start to add more volume again. The stock price has been trading under pressure for some time now, almost like it anticipated this development. 2024 things may look entirely different but its imperative James did something now to change track, and he has. It may take a few months but i think this will work better for us shareholders, assuming silver prices don't collapse too much further from here.