RE: mgmt Unlike another company I am invloved in this company does their asolute best informing the public, attending mineral shows, TV programing, visiting brokers, a good web site, hard work and Ken Shortt on the phones doing his best. Problem is Bernie screwed us and Andrew dropped the ball not keeping an I on the store (gem cutting).
Apparently the industry average while setting emeralds is a 12.5% loss. The True North gems are fragile as the surface stones have been subjected to alternate freezing and thawing and poor management while extracting the stones. William Rohtert is much more the expert and is doing a much better job. The company has learned much more how to extra the stones from rock to minimize damage but the initial mining methods were not good. Lack of emerald mining experience in Canada certainly has set us all back more than a year and right now the public / broker preception has bee so negative that it will take a long time to restore confidence in management.
William Rohtert will pull this through. He personally wants to prove to all his collegues that this is a viable play and good discovery. January should see firming prices after tax loss selling. Results for the rubies will be out in the New Year and valuations will at last take place now that the cutting has been completed in India. All this should come together before the Prospectors show in Toronto in March. Robert is desperately trying to meet this target date.
He had better meet this date or we could all be in for another round of hurt.