Awful production reportWhat a terrible quarterly report -- right when the price of gold is close to all-time highs, and the company is on the verge of getting rid of an onerous hedge covering 40% of its production, the following is happening:
- production at the Swedish mine is crashing, right after they raised guidance (after missing guidance two years in a row).
- production at Costerfield is crashing.
- if this level of production continues for a year, they'll miss guidance by a huge amount.
- personnel problems.
- equipment leasing problems.
- they delayed their resource update for Costerfield by 9 months.
- their last drilling update contained very little.
- they decided against reinstating their dividend in favour of a stock buyback
- the CEO quit.
What a mess.