RE:AngryGeo analysis of latest results
As the author says - 9 months and missed on 150,000 ounces
That is a USD $195m miss
That is a significant amount that WOULD have gone toward getting rid of the awful stream.
But now that $$$ is vapor but the stream and other debt remains.
This is all about timing and execution, The management made the botched cake in a frenzy and now the shareholders must eat it.
The only way the current management will go and be replaced is after they cash in another 1 or 2 years and they squeeze every shareholder $$$ they can out of it before it goes belly up with a
new owner. By then they will be working on lower grades.
Could a "miracle" happen...? Yes, they could uncover a tremendous high grade vein in the VOK that even they cannot screw up or perhaps they may find another 1 or 2 VOKs nearby.
These two scenarios were always present as a huge potential and unknown upside in holding
the stock, but if the company can barely break even with the debt load, it will be a painful
ride down.