RE:Was June 21 Press Release the Announcement of Production?
Good to hear from you Greg.
This is exactly what I have been saying when people cheer on every action as if it is relevant. The only thing that matters is free cash flow and EPS. Everything else is just supporting activities or tasks to facilitate that.
Again while I appreciate transparancy and detailed update - We need to see tangible production related results. Telling us you ordered the furniture, the photocopier is stacked with paper and light bulbs have been changed means nothing.
They note they will be at 80% nameplate production capacity by year end - which would translate in 30K tons+ a month. I will believe it when I see it. To date they have produced nothing close to that in the months in which there was production.
This management is immensly more competent then the last group lets hope that translates into positive EPS.
If you recall n the past I used to highlight Christiano's compensation (and lack of results) - As I read your post I was also reviewing the AGM documenation and noted our great ex-CEO made a killing guiding us through bankruptcy.
On another note: despite having only less then 4% of the company I will be out of principle voting agains Anthony Cina on the BOD. He was part of the ex-management group and 'special advisor' in the strategic review process that got us to this point. I want him expelled as far away as possible from the new group.