GREY:VITFF - Post by User
Comment by
MVargason Nov 08, 2022 1:02am
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Post# 35080965
RE:Management
RE:ManagementDanno13 wrote: Time for a management change with the price of gold being above $1600 and you can't make a profit because of a belt issue.
No one is going anywhere. Victoria doesn't change management - they add management which increases G&A costs. They have a Chief Technical Officer and a Vice President of Operations - neither of which takes a fall for underperformance, but instead they add another VP who has the additional Title of General Manager. Who's in charge?
The CEO keeps breaking promises and under-delivers to the point where he is now scared to forecast production for the next 2 months after promising a revised forecast last month.
In mid-August he told us to look for Raven drill results the first week of September. Not one drill result has been issued from 2022 Raven drilling this year. Meanwhile Banyan keeps flooding the market with drill results. Maybe Paul Gray needs to be reminded who is paying his very generous salary (it is not Banyan).
They just reported a Q3 loss because they didn't sell all the gold they produced in Q3 which also inflates cash costs per ounce and AISC per ounce. On the bright side Q4 will look better because of it.