Post by
Nick2021 on Apr 18, 2023 5:51pm
Awful production report
What 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.
Comment by
Sherry35 on Apr 18, 2023 5:58pm
You'd think they would have the Bjorkdal underground haulage issues and associated contract under control having expereinced these issues 2 and 3 years ago. You are allowed to make the mistakes once, but to repeat the same mistake makes one an I___T.
Comment by
Sherry35 on Apr 18, 2023 9:27pm
All goog points. And, Au is on a tare so you think management would their poop squared away to increase our year end profit. Personnel issues at both mines. Well, perhaps mgmt should take a 10% salary cut like HP did in the past 3 recessions. But they are a visionary company. ALSO - the stock chart looks retarded.