RE: Taking care of business Thanks idlefreebird. This was a good read. Management are grasping at excuses once again. It was just before xmas the management team distributed a flick telling us all is well. Am I to believe them? They are such a bunch of fibbers. No matter how difficult the task quit trying to polish the problems. More communication to the shareholders would be very nice. I made a blog after you published photos of the mill progress last winter. Just looking at the photos told me they were in a time line crisis for a June completion. Now they expect September? This project was due at the end of December 2013. We were to be completing an upgrade of the mill to 5000 tpd by late fall 2013. Big money was spent on the purchase of the mill equipment , transportation and construction preparations to complete the mill to 5000 tpd this year. I have not heard a peep about that spending. Did they spend or not? Was this a total waste of spending? Now they clip 35 jobs. Maybe they can save $5 million per year. Are they really saving 5 million as those people were contributing to the effort? Look at the managements bonus plan for incompetent spending and managing this company to record lows.
Delays cost the company. ....4 grams times 500 tpd = 2000 grams / 31.1 = 64 oz per day
$1400 gold minus $800 costs = $400 per oz revenue after production costs
64 times $400 = $25600 lost every day we get delayed
Three months of delays (July , Aug , Sept) 90 times $25,600 = $2,304,000
Three months of Delays (Apr , May , June) = over $2 million lost.
Three months of delays (Jan , Feb , Mar) = over $2 million lost.
Total lost clear revenue lost is equal to 35 workers and families.
Yep ....nail the workers. nail the towns tax base. Don't touch management??? What is crazy we pay bonus?