IKN

More matter with less art

Goldcorpse (GG) getting murdered at the open

And quite right too, after the 3q18 financials it posted last night:

I didn’t post much here on the blog yesterday, but over at Twitter here’s what I thought of David Garofalo’s continued mess on opening the financials:
A serious question: How long will shareholders let this person and his 20/20/20 psychobabble continue to ruin GG? It’s one thing to come in and make wise noises about concentrating on margin instead of absolute number of ounces, quite another when you’re seven quarters down the line and you cannot even deliver a mines operating profit. It’s embarrassing not only for GG but for the whole industry, which will continue to fete and laud these masters of mediocrity in charge of Tier 1 companies because as the results that wheeled in last night showed, he’s hardly the only one. GG was the worst of the bunch, but the C-suites at LUN, NGD, DGC and ABX have precious little to be proud about, either. Garofalo and many others like like are Emperors with no clothes, they don’t just invite ridicule but deserve it.

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