RE:RE:RE:I really wanted to buy this dip , BUT I would see that as they knew Q2 was going to be the best quarter for the year, as the company had an application in for the rate increase and wants to show typical routine numbers, not an exaggerated effort to include the best zones, If so the regulators could doubt the need and reasons given for the rate increase. The average for entire deposit is the 16.1, but the main VOK being mined is 14.5 as shown on the Dec. 15/16 reserves summary. Once the 14.5 is diluted by mining and recovery, 12 to 12.5 is reasonable. I've been saying for a year that I am not expecting more than that. However, this is 12 - 12.5 that also included grade control efforts, not mining everything. That why I think the model parameters need to be pulled down a little, not a lot, just a little, maybe 10%. This might also drop the tonnes by 5 to 10% which would be communicated on the reserves update. I was somewhat confused when Q2 was better than expected, and but we did not know how much was to be attributed to the grade control efforts.
Anyways it still remains that exercising and selling is not the same as outright selling, these are options they held and waited with for the entire mine construction process, and they do have more options, so whatever exercise and sell most all of them, they do have more and it does not make too much difference as the facts and situation is not affected by what they do.