Are you implying that they made up the drill ing numbers? Well that is one point of view for sure. It's 500Yards plus access ramps, etc. plus digging when there so a 1,000yard plus start is minimal. I really don't see them having the money without emptying Treasury to spend what it should cost to develop this area. They already wasted last quarter with any excess labor on the water problem. If you having anything a little more specific feel free, otherwise byw
Oh come on IP. Who would believe that Jason would be even half that devious and capable. Certainly not me, so I am surprised that you give him that much credit.
And BTW, the paper analysis being done by everyone is close to meaningless.You have to be aware of where and amount of the face and digging is probably occurring and the specificity of the problems in order to even begin to guess what grades might really be. Yes, Jason spoke clearly, so good for that, but let's just hope that another one time recurring (sarc) water problem doesn't jump up and stop drilling in some of the extended out location, thereby forcing them back into a position where they are cleaning the smaller veins that they bypassed at an earlier date. Also this obviously moves the access to Switchback out further since lack of money, equipment usage in awkward locations, time and energy are spent on solving and eliminating the water problem which means that there might be some future echo ramifications if any of these issues remain unsolved, thereby depressing grade levels. Otherwise grade levels should return to previous plateaus which is what Jason stated.
Since it appears that they dug old trash for at least a good part of the quarter I see the grades as adequate, but again these problems need to be solved.
We will see.
Natasha, sorry but your answer is absurd. Of course production has a direct connection to revenue. Why attempt to increase hours, cap-ex, etc. in the midst of a major pricing depression in your commodity. Very good way to go bankrupt and I for one know this personally due to my decade long exposure to cyclical industries in ownership positions. A time to plant and a time to reap and a time to sit quietly and wait.
Now the second part of your statement has some truth. It is definitely a good question as to whether or not to hold this posiiion. For me personally I have clearly stated that it is a contrary position and that I am waiting for mid 2016. Whether this is smart is very open to question, but then contrary positions are often uncomfortable for periods of time before they pan out, but still if you've been following me I have made it clear to any that Goro is definitely a risky speculative position and not for the faint of heart.
As to your valuation of .90, well I just disagree with your quantitative analysis that gets you to such a low number. To my eye any pricing under 3.50 is now very cheap for Goro, but again at any price Goro is a speculative investment. Jmho
With pricing, etc. the way it is right now, why would any reall adult want to take on this challenge. There is very little there with silver at 15. Most miners are doing very badly in case you missed it all.They are just holding the fort until things change and I for one do not believe that someone else would do all that much better and truthfully might do even worse. Just time to calm down and wait. Watching paint dry in the rain. And BTW, I've been very consistent for a couple of years so again the trauma seems unnecessary.
Bead I am surprised by your dismay. That is about 1/3 of output of 20,000 ozeq which is pretty much what was expected. Disappointing absolutely, but not surprising and with gold at 1150 not 1200 and silver under 15 I am still amazed that anyone even bothers thinking about 200,000 ozeq anymore. The stock price was 20+ to support those outputs. We are now under 2.50. Completely different valuation here.
Now whether Goro is sustainable at these very depressed prices is a good conversation to have, but continuing to flail a dead horse for ancient projections in a completely different pricing environment seems like trying to count angels on the head of a pin. A totally worthless intellectual exercise. As always I am looking for a possible precious metal price rally in 2016. Anyone expecting movement sooner is just wishing. Jmho