Quarter ReportAfter several quarters of missed projections ABI management is getting closer to fulfilling projections - about halfway there. The Elder situation, months behind the schedule advanced over the past year, should soon meet the production levels we have been told were coming.
The Sleeping Giant mill project did meet the start-up projections when it came online last August but it has never processed the feed from Elder we were told it would, but now is approcahing that level. So, the mill part of that aquisition is beginning to pay off and it was a great find at a bargain price.
Coming out of the AGM last December were reports that SG would be operational in a few months 2/3 as I recall. That now has stretched to late '17 or a full 18 months after the deal was closed.
The level of priority given SG should be high as the mill is situated next to the mine.
This projection mismatch has not been explained and where I come from managements would be in deep trouble for such a miss.
Shareholders are owed a full explanation about the deficiency in operational performance with regard to SG. Despite the contentious concern for us shown by Mon. Hinse, he is required to divulge material shifts from projections he has advanced.
His operational performance is suspect and is likely contrxibuting to the lack of interest in ABI as a viable investment.