Skeleg exclaimer on Underpromise and Overdeliver
posted on
Jun 26, 2010 02:29PM
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All this talk about promise keeping reminds me of my wife. She asks me when I'm going to do some task, like clean out the garage, build a deck, take the family on a vacation and so on. So I give her my reasonable forecast, based on what I know at that time. But I always say something like "should be able to do it on X" type of statent.
Then, when day "X" comes along, and I have not done or not completed the task, she sometimes brings it up in an argument and says that I lied to her.
My take is that when you ask for a projection of when some wanted event comes along, you are creating the circumstances under which you will likely be dissapointed by reality. What I think is important is this: Is DW acting consistent with the promise, making best efforts to deliver the promised event? If so, then the timelines are not as important as the details.
DW has promised a prefeas will be completed around the end of June. I see no reason to believe that he is not doing everything he can to fulfil that promist. If it is not completed until the end of July, or even longer, but is ultimately completed soon, then I'm not goint to consider DW a liar. I'll consider him someone who kept the promise, although reality sometimes causes temporal displacement.
If the pre feas is better than what he has intimated, then he will have overdelivered. The details will tell all. If the reserves are more than 700,000 ounces, the cost less than about $450 per ounce, and the financing equal to or less than the EA, then DW has overdelivered.
disclaimer: I own tyhee shares and plan to own them for years and years, well into production of the mine that will be built on Tyhee's properties at teh Ormsby site.
As for liars, we can see enough of that on the television. And on THAT point, I think the G20 summit here in Canada is newsworthy. Everybody is talking about how the US stimulus did not work, and a double-dip is coming. I agree. But this will suck the money out of the marketplace, into more US Governemnt debt. Credit will be tight, and risk aversion will increase. So gold will continue up into 2011, and any producing gold mine will be printing it's own true currency, the one legitimate world reserve currency: GOLD.
DW and whoever is about to join the Board of Directors may have to raise cash in this weak market for gold juniors. Or they may make some deals. But the certainly do have a valuable asset. Not just the properties and gold resource, but the advanced stage of development of the project.
I stand by my view that DW underpromises and overdelivers on the substance of progressing the project into production.
The garage clean-up can wait another weekend, DW is busy doing what he needs to do. Let's not nag abot time-frames and accuse him of being a liar. He deserves more respect than that.
SKELEG