Not Much InfoI read other boards and compared to those boards, this one provides very little information and logic. Puma1 is good and several others but for the most part you don't get anything that makes a lot of sense. I agree that Eldorado puts out little information and what they do put out is only because the law requires them to. Management is a highly paid group of incompetants that are adverse to disclosing what is going on. I guess they think they're too good to waste time trying to explain themselves. However, payback is a b1tch and they will have to answer to the institutions and fund managers. The recent retirement announcement is probably a bone tossed to that pack to keep them occupied for a while. The other shoe will drop eventually for Burns.
From what I gather, they built an 80 meter high heap leach pad with ore that was different in some way from previous ore run through the heap leach process, and they had no idea that the difference would effect the outcome of the process, or worse, their drilling and lab analysis didn't pick up on the difference in ore content. Now they say they don't know what to do and will have to do additional testing and analysis for some unspecified time period 6 years after the FS was issued This is so inept that it is hard to believe. It casts doubt on every other project they're developing. But, Burns says the same people who created the mess will no doubt eventually figure it all out. I'm not holding my breath.
So, until the Greek issued is settled, we will have no news releases other than those required by law and the SP will continue to drift downward and rightfully so. There is no guarantee that the Greek issue will be settled in Eldorado's favor and Eldorado hasn't put a price tag on what it will cost to meet the Greek Governments demands.
Hate to sell in the middle of a collaspe but hard to see the light at the end of the tunnel. Only hope is an arbitration victory and Greece seems in no hurry to speed the process. I'll probably not sell but believe that any future SP increase will not come for at least several months. Hope I'm wrong.