RE:RE:RE:RE:DARN! We are in for worse trouble ...
QuietObserver,
My thoughts exactly. This was the BOD making a decision on Bruce considering the terrible performance of TMM since the Newstrike acquisition and his inability to control the resulting damage.
In this move, Sentry investments (who were also invested in Newstrike) get a CEO that is familiar with TMM's most important asset for their future, can raise the capital to move the project forward while working with the existing team to contain costs and update the mine plan to enable high-grading on San Francisco (which was already a WIP).
This is a positive step in my view and necessary with TMM languishing. This helps save sentry's investment as well, as we know they were at odds with Bruce a few times in the last year or so.
This is not about ceasing operations, or obtaining cash for operations - it is about righsizing the balance sheet considering the POG, obtaining capital to move Ana Paula forward, and optimizing San Francisco, all while breathing new life and perspective into TMM.
Have at it, bashers.
B