Re: Get Real
in response to
by
posted on
Feb 24, 2009 10:36AM
Producing Mines and "state-of-the-art" Mill
Quaz, by broken promises I mean its no secret that this company has hyped how full production was always around the corner. Earnings per share were going to so much. Heck, even talk of a dividend at one time. I seem to recall people quoting management that 1500 tonnes a day was around the corner. Then it was 1600 tonnes a day. Did management not spend valuable monies improving the capacity of the mill to 2000 tonnes a day. And why? It never processed more than a few hundred at any given time. New computer systems to improve recovery rates. Thats all fine stuff, but should they not be producing ore first? YOU GOT TO WALK BEFORE YOU RUN.
As far as everything being double the value by next year, I hope someone gave you that in writing. Thats a pretty big promise to expect from anyone these days.
And as far as these missing six months of opportunity? Come on now. These problems were bubbling to the surface long before nickel prices and the economy unravelled.
All the decisions made that led to today were made by management, no one else. So why can't management be held accountable? When was there ever a profit? Why would the last six months be profitable if the previous three years could not be?
Its fine to debate certain facts and their outcome but reality has to kick in sometime. People still talk about the area as an area play. And this does not help that. I think these are just basic questions that you as shareholders (me as an ex-shareholder) should be asking of management. Not ISM shareholders.