I'm worried with the timing of the press release that Q2 earnings might be a disaster & so management offered this human sacrifice in anticipation that investors will ask what is the BOD/executive team doing to keep the company viable in this market. If that's the case, August 6th could see us dip below $3- I don't even want to think about it. And what kills me is that with all these mine closures, why are we not seeing reductions at corporate? If there's less work in the field, there's less work at the big house(s).
definitely positive. count this way, save about 1) 100 million human cost (salary plus benefit), 2) I am sure all these mines are losing money about 30 - 50 million per/year. so we can save 150 million/per year. negative is when market turns around, up potential lost.