Bone headed management ruins another quarter How can bone headed management do this quarter after quarter after quarter? Their incompetence is astounding. I remember when people used to praise Ricus and the "new management". You remember who you are. Do you still think this "new management" is so wonderful?
Bone headed management has no idea how to run a mine. They gave up on trying to run Caribou, so they brought in a contractor. How did that work out? Costs are through the roof, and the mine is losing money. Then they closed down Santander without even warning investors properly before the mine was depleted. Now we find out that they cannot safely operate the Perkoa mine.
It has been 2 days now, and no news. As each day goes by, it is less and less likely that those 8 workers survived. I am so sad for those worker's families. They have paid the ultimate price for management incompetence. As investors, all we lost was some money. We are the lucky ones.
Every day that management fails to report to investors increases the likelihood that Perkoa is closed forever, and this company is essentially down to one mine. Bone headed management has made 3 out of 4 mines worthless at an amazing pace. Bone headed management has managed to destroy mines, wealth, and lives faster than anyone could have imagined, even me.