MBertolli wrote: National Bank research report this morning cut their 12 month target from 0.70 down to 0.55 while pushing out first production to H2/16.
The overall thesis remains unchanged.
Two additional things give me pause for thought from the latest news coverage:
1/ As stated, $4-8M in damges to a non operating mine means buildings were brought down, employee camp vandalized, heavy equipment was burned or destroyed?
And I can't think of what else, any core on site would be stolen. This is tremendous damage, far above what I would have guessed was a car burned and some things overturned.
2/ I have no idea what firing the CEO does. WHy not just O'Dea work with him more directly unless Mark is saying he is part of the problem or overlooked/didn't report obvious local issues?
3/ 160 army/security guards tells as much about the damage and risk as anything.There should always have been 10 there?
Everything I respect Mark O'Dea for does not contain this skill set if the locals are able to turn this into a "West against our Mosque" issue.