My Thoughts About Q1 Results And Monday's NRWhat to say... once again over-promising and under-delivering. Credibility is not reinstated. I agree that it's not possible to define production guidance by taking into consideration all things that could go wrong but that's why you need to under-promise... lower the expectations. Will they have learned the lesson this time?
We can extract some positive elements from the NR. First, I'm glad to see Jonathan Fitzgerald being "resigned" from the board. Seeing him selling since November, my take is that he knew he was being "resigned". With the change of name coming, perhaps the replacement is already known and they needed to publish the negative stuff Monday in order to clear the way for the "positive stuff" cycle. I hope we get a big name as a replacement.
Jonathan Fitzgerald's expertise was more around M&A and I guess the other board members wanted someone with another background in the driver seat for what is coming. I think we needed that move to send a real "signal". Seeing him go marks the end of the old Orex era. Time to work on the Signal Gold era now.
Another positive aspect is the fact that they dealt well with the toxicity of the water at Argyle. This could have been desastrous if it would not have been catched.
So, 3 more weeks to, hopefully, see some positive from Argyle. Let's hope gold is at $2200 at that time. GLTA