RE:Abi not participating.. The recent commodity price spikes are mostly conflict generated. Putin appears to be willing to reduce the country of Ukraine to rubble. But resistance to his madness is fierce!
This is a time of great uncertainty with respect to many different economic trends and supply issues for world markets. This period may continue for some time. Perhaps it could go on for 6 months or longer.
There is always the possibility that this war might not be contained to the Ukraine as the players in this sad drama could make many very unpredictable moves.
The market hates extreme uncertainty and acts accordingly. So we have this seen this aggessive move into safe haven investments such as gold or silver.
Management has admitted that they have been unable to hire sufficient employees or keep them healthy. Production numbers have been down as a result. But there was some mention that a considerable reserve of gold may have been held back from sale.
If this was done in anticipation of the recent spike in the gold price, then it was an amazingly astute move or else the company has engaged the services a very competent 'fortune teller' as a consultant.
Crystal ball gazers aside, *2050 US dollar gold* is a huge plus for any near future gold sales.
The present expectation is that the company has got the infection rate well under control and I understand from Dany that the work at all sites was never completely interrupted.
It is my hope that the production numbers can be brought quickly back up to more normal levels.
But the company also needs to find some means to accelerate the Sleeping Giant mining operation. Increased production from Elder with a sustainable higher gold price should considerably help the company's financials. But the problem remains that trucking costs to the mill will be also considerably higher due the extremely high recent fuel costs.
The company's new CEO will have a lot of responsibility placed upon his shoulders. He has to be a very competent individual. Not only does he need to be able to run multiple mining operations and expand the value of the exploration properties but he will also be tasked with the job of exploring all financing options for the company. So he needs to be a very experienced past miner.
I would assume that once he has been selected and fully introduced to all of the company's operations that he would then assume the Chairmanship of the Board of Directors.
The company needs a mining expert in charge of all aspects of the Abcourt's Mine's management team with no more part timers at the top. The CEO and Chairman of the Board need the energy, time and the drive to get all operations moving strongly forward.
It is clear that Mr. Hinse has run out of steam. And this has not just been a recent development.
The new CEO also needs to help address the many short comings in Abcourt's public relations efforts as Mr. Hinse has badly let this matter slip in recent years. He obviously now lacks any competency in this department perhaps due to his age, lack of energy and/or lack of understanding of the needs to properly inform all of the shareholder community.
Shareholders are important; not just the company's mining operations!
Consistency in company earnings is the best way to drive the share price higher. Abcourt needs to have a history of positive earnings on a quarterly and yearly basis. The company also needs to impress the market with an ability to grow in size.
To date, management has failed to deliver. The new CEO may be able to get the company back on the right track. But he will be faced with many challenges.
But if this gold price is really sustainable for a period of some duration, then the 'wind will be at his back'.
That is the best way to start 'a voyage of discovery' which others with 'dollars to invest' might like to share!
All the best! Java