RE:RE:RE:RE:RE:Q4 resultsGoldMind123:
I don't know if the timing is right to oust the management team right now. My only shred of hope is that their background is advancing, financing, and building projects. Right now all that's left of Signal Gold is Goldboro. Advancing and financing it is supposedly their strength. Let's hope they have that left in them. That said, if anyone is serious about their investment here, they've got to be on an extremely short leash.
Yep, now that they have cleared their hand of al the bad cards, let's see how they will use their good ones.
Kevin became CEO in 2019, I don't believe they hit guidance once since then. Signal has been talking about becoming a 150,000 Oz producer in 3-5 yrs, for forever now. In a couple of months it will have been Kevin's show for 4 years and now they'll be exactly a 0 Oz producer with significantly impaired NL assets.
Interesting resume about the Point Rousse mess. It does not excuse them but they made it clear that they were there for Goldboro. Finding gold is hard but developing/mining tiny deposits like Argyle and Stog'er Tight without burning lots of ca$h is a LOT more difficult. They tried and they failed. And we are still paying for that. And I agree with you about the 150K producer pitch... I raised that point a couple of time in the last couple of years.
I also don't think they've done any favors to their image in Atlantic Canada in the last few years. At one point Anaconda was a good news story which for sure helps in Atlantic Canada.
This lifestyle train is about to come to a grinding halt if they don't start executing.
We should not forget that they "did execute". Sure they failed in overcoming the challenges at Point Rousse but regarding Goldboro, the real asset of the company, they delivered big time IMO.