They can't control the price of gold, but they could manage their own operations if they knew what they were doing. The price drop is a combination of lower gold prices and mismanagement of the business. Theoretically, they should be profitable at current gold prices, maybe even down to $1,400 or so. The problem is they can't manage the business at a profit. After 20+ years in business they have accumulated a net operating loss. There is simply no excuse for that. This is not a start-up company.
There is supposedly +$65 millions in the bank. Can't some of it be used to support the
share price? Just a small dividend or minimal repurchase plan would at least give the
impression they are confident. That's my opinion. Or are they only making certain they
have jobs for another 10-12 years? There are 39 million shares "long" and 550,000 short.
Incredible how much damage the shorts are getting away with.