RE: Ancient History:If you read the MD&A, ANX's projections for the next couple of quarters has been downgraded from their projections they made earlier this summer in their information circular. They had hoped to reach 84% recovery by Q3 - 2012 but have now forecast 80% recovery which is the same recovery rate they had before all the plant upgrades this fall. Their unrestricted cash balance at the end of Q3-2012 is $5.67 million less than what they originally forecast. These are big numbers to by off by in your projections. It is easy to see why investors have no confidence in what is happening. I am not sure if they badly miscalculated their original forecast or if the modifications at the plant are not working out the way they had hoped for. Either way it isn't a good situation. Hopefully there will be some good news soon.
On the positive side - a consistent 80% recovery is much better than what we experienced over the last year or so and the grade is getting higher. They just need to get costs under control and get consistent and reliable output.