"The old management team got what seems to be the bums rush to the door because they couldn't figure ot how to execute the business plan
The new guys stepped in and immediately communications got better, but its a leaning curve because with out question the seize of the project, and the potential, are much bigger then the previous guys were prepared for.
The new guys make a tuff call, seek to expand the known recourse and delay the PEA or order it released knowing it's a gross under estimate.
Agreed the problems is timing and explanation. The company had this info for over a month ago. The new CEO was here 3 weeks ago. They should not have waited till the day before to tell us. “Hey sorry guys its not here” . When should they have released this info? I do not know but three weeks from the day the new guy walked in the door is too long.
Secondly. Explanation. Why are the old numbers not good enough? I like the idea of a PEA with bigger numbers. But why the ******** not put out the PEA with the smaller ones and announce “Hey we want to update this with bigger numbers because XYZ and ABC”. This will cost the company peanuts difference. Snowden may even give the company a frequent shoppers discount. The fact that they do not release the smaller numbers confuses and worries me.
I am investing in this co because of the resource in the ground at SKK and the potential of LCM. The management team so far is a negative reducing my valuation of the company. Ive been bitten doing this before. Hopefully this will not be the next.