RE:Am I missing something?People were hoping for better grades during the start up process. They were lower than hoped for, however, it is not known if it is a result of not having their mechanised grade control system running, or if their model slightly over estimated, or some of both. It has become in fashion to assume very extreme negative scenarios, and the company seems to even be beiing kicked about and bullied somewhat online. People are forgetting that the grades were not bad during august and september, and the company was constrained by events and planning to mine lower grade in Q4
Other problem is the gold price. Attempts are being made to turn the us dollar fall. JPM says they expect four rate increases during 2018, that is unreasonable and near zero chance of that, however the market is listening to it and warming to the dollar. It's stabilizaton has hurt gold recently.