RE:RE:Help me understand Ytinasni,
Come on, man! Leave Juan Gavidia alone! The man has delivered on his guidance of 62,000 to 68,000 ounces of gold at Orovalle. The production number was 64,327 ounces which came in at the mid point of his guidance. And for copper Orovalle beat on 5.0 million pounds of copper sold versus the 3.6 million pound upper end of guidance.
For Don Mario, they missed the lower end of guidance by about 5,000 ounces. So I agree with you on the miss at Don Mario.
However, you have to grade these gold company CEO's on a curve, and when you compare the consolidated 2.5 percent miss that Orvana had with the EL STINKO performance
by Dominic Duffy at Costerfield where they dropped 2019 guidance from 23,000 to 30,000 ounces down to 13,000 to 17,000 ounces for the year. NOW THAT IS A HUGE MISS by 50 percent.
Mandalay Resources' year to date gold production is only 51.017 ounces for 9 month which translates to a 12 month run rate of 68,022 ounces of gold, which makes Juan Gavidia look like a hero having produced 97,259 ounces of gold in fiscal 2019 at Orvana.
So do me a favor, and start heaping the abuse on Dominic over at the MND board, where the criticism is well deserved.
In contrast, Juan Gavidia is doing a stand up job as CEO of Orvana!
What's more is that my production model predicts an after tax profit of 2-4 cents per share which will swing Orvana into the black for fiscal year 2019. Not quite the 10 cents per share profit I was expecting, but I will take 2-4 cents in profit any day over the 4-6 cents per share loss which is baked into the results at MND.
So, IMHO, Orvana has turned the corner on profitability and if Juan Gavidia can deliver on the SART plant at Don Mario, then both Don Mario and Orovalle will be cranking out MONSTER profits in fiscal 2020.