Towards the end of the interview there is some interesting insight in how the variable costs work at Thurso when the mill doesn't operate at full capacity. The part of the interview where Chad is asked why the stock price has been poor was typical. 1)He blames low dp price...true..I will give him that. 2) He blames some of the analysts for not understanding the cost structure...He is indirectly referring to the TD analyst who has been the only one to be correctly bearish on the stock. What bothers me is that Chad takes no direct responsibility for his role in the stock price decline. Let me add a few points as to why I think the stock price has declined. 3) Thurso has been over budget and behind schedule. 4) Landquart is bleeding red ink with no game plan communicated to investors as to how the bleeding will stop. 5) Management doesn't have credibility with investors and management needs to regain the trust of investors.
The good news is that a lot of these issues are company specific and operations oriented which means they can be fixed.