…isn’t the “oh we screwed up the gold production” bit, nor the lame excuses for the screw-up. It’s this bit, the quote from Howald:
“Although the time lag in production of gold ounces is our first bump in
the road to what has been a remarkably successful ramp-up, we have made
modifications in our planning and execution to
speed up the process,” said William Howald, Rye Patch President and CEO.
Remarkably successful ramp-up? As my fine feathered friend Owly would say…
…because if you check the RPM corporate presentation on Florida Canyon from this time last year when the whole shebang was first unveiled…
…you see that first production was set for the end of 2016 and the mine was supposed to be in commercial production by 1q17. Instead we have a company that’s sold off valuable assets to pay for time and diluted its share count even further by raising more capital it said it wouldn’t need. And now you’re telling the world that 3q17 will suck as well!
Remarkably successful ramp-up my fat ass, Howald. More like your remarkably shiny brass neck.