Lets lay it out
posted on
Jun 12, 2014 01:46AM
Agree with Rosehill's analysis, ie, our SP is going to take a major hit with the way the latest results were reported, and received by retail investors - ie, according to this NR, we've actually reduced our global resource - that's what the NR says - we had 4.3 mm oz in the LGZ as a pit-constrained resource - now we have a resource of 2.3MM oz, when PRB shareholders were expecting a new resource est in the 7-8 mm oz range.
How did this happen? As I, GH and others have said, mgmt decided to change consultants, and throw out the reserves from the LGZ, in favor of simply reporting the new high grade assays -
We will all take a financial hit because of the way this data has been handled - I'm not pleased, and you shouldn't be either.
Because there is an emphasis on higher grade deposits, in light of the recent drop in the POG, this DOESNT negate the LGZ, and a global resource should be reported.
You want honesty? I've been associated with PRB for over 30 years - but, if this is the way we now report data, I cant put anymore $$ into this company - there are too many other good companies out there to invest in.
WB