Mid- September ? In addition, as mining progressed through mid-September, operational issues with two stopes prevented expected higher grade ore from being mined as planned. There was a hang-up of a key production stope and complications with sequencing another stope. As a result, readily available lower grade tonnage from operating stopes was substituted for the expected higher grade tonnage.
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IMPORTANT QUESTIONS
What EXACTLY is the company definition of mid-September ? is it :
around Sept. 14 or 15th or was there a broader definition i.e. :
Sept. 1 to 7 beginning of month (first week)
Sept. 8 to 22 middle of month (weeks two and three)
Sept. 23 to 30 end of month (last week)
Was the access to higher grade stopes problem known on Sept 8 or prior ?
On Sept. 9 a major selloff of PVG stock occurred right from the market open with above average daily volume on that day.. The stock price dropped from a Friday Sept 6 close of $17.18 CAD to Mon. Sept. 9 close of $15.65 and then further to a $14.80 close by Sept. 14 close. No news release was issued subsequently that would explain the sudden selloff . AS LovesAU mentioned the stock sold off 9% on Sept. 9th 2019
GDXJ a proxy for jr and mid tier miners was off but only but only 2.9% on that day.
Who were the sellers Sept 9 2019 of higher than normal volume? Did they somehow have foreknowledge not made available to us ordinary (less important shareholders) ?
Why was this stoping access information withheld until the end of the quarter and not made known earlier ?
The company released a presentation dated Sept. 17 2019
in that presentation they still called for :
“Increased tonnage and grade in second half of 2019”
Were they still unaware of the stope access problem Sept 17 2019 if so how could less than two weeks of mining Sept. 18 to Sept 30 result in such a fall off in the whole three month grade average.
If they were aware before Sept 17 of a problem why release a Presentation that they knew was inaccurate and misleading without any comment about a possible change of circumstance.
We need a better more precise explanation there are too many holes in this mid-September story.