Perspective for 2012 I haven't posted in awhile. I was licking my wounds from the paper loss that has been accumulating due to my overweight position in this stock. I go in/out of other stocks but go long on a certain few like this one. Have to admit seeing the events over the past few months unfold has been disconcerning but I haven't sold a share - I always planned to hold through 2014 and beyond once the true potential of the properties have been unlocked. Still, to have sold at the highs would have been the smart thing to do, but I kept convincing myself the lows could not get any lower...yet they did. I'm sure I share this experience with other shareholders.
A new year is around the corner. Let's start putting things into perspective and curb the doom and gloom. Yes most of us are terribly bitter about how the management team handled this gem but these mines are going to operate for 10+ years. In the grand scheme of things looking at that timeframe the hiccups from the first year are not that serious. Trust in this management will take time to be renewed and in my opinion will be the main factor that will hold up the upward movement of this stock once the mines are in order.
However let's give Bill a chance. Who knows what was happening behind closed doors. Maybe Roland was the main cause of the miscalculations, maybe not. If anything his outing serves notice that if the downward spiral of death continues more changes will be coming. I'm surprised Carlos is still around actually - the guy has 9 lives.
Yes Newbie your predictions were correct but now there is no point repeating every week how terrible the management is. Let's wait until the financing is announced and see where the chips fall. I personally don't see dilution that damaging in the long term -the company can always buy back shares when they generate so much cash they don't know what to do with it.
What we do know is that production keeps on improving on a monthly basis, meaning the cash costs are in turn going down. Something to be positive about. The worst seems to be behind us...correct?
Happy new year to all