I do agree that bankruptcy is a little silly, if he meant it literally, which I don't think he did. I would venture a guess it was sarcasm and a joke at the same time, much like this company. They knew the pressure was on to deliver a solid quarter because of what happened to the share price over the summer and this is clearly a F-U to the shareholders and the street. The only way to describe the quarter is to use the word pathetic. This stock is dead money for quite some time now. Every one that bought and held from mid August thru yesterday is now under water on their investment and it is only going to get worse. I still think this dog dips into the 20's in the coming weeks because there are plenty of bankers that were offside in their long bets and they will now make ABX pay dearly as they sell and go short. What they have done is sully the reputation of a company whose reputation was being called into question in the first place.
Finally some constructive analysis.
What the future holds is in management's hands.
It's been a short time since the new CEO arrived.
The question becomes do you focus on costs and there by free cash; or
do they say damn the torpedos and bite the bullet and spend the capex and get production rolling.
We live in an inflationary world despite what the powers that be tell us.
Those increases impact all producers, heck if I was supplying, any of the factors of production, I would want more, as my costs increased.
Obviously, the price of Au is the wild card in all this.
An observation ... raise the dividend and reward the investor base for waiting around.
This would be a concrete gesture on the part of management for the investor to be patient.
I hope Bimmy isn't angry with me ... I appreciate His/Her point, but as I said before ...
It costs money to produce Au.
If it was easy we would all be out there doing it.
Thank you for your commentary.
Peace and GLTA