re Not his fault if gold tumbling4 Aug 2018 13:59
Quire true PushMePullyou,
I agree ,but if he was general manager then he must take some if not all of the responsible for letting the contractor run the LHDR to such a breakdown that it was unrepairable fora long period without even the appropriate spares being available
Sorry don't except the excuse that it would tie up too much money having a spare LHDR or a more comprehensive supply of spares on site, this is supposedly an expanding business and it has lots of spare cash.
Remember these guys get very generous pay packages and lots of free bonus shares for taking on such responsibility and they are expected to deliver results, not a months lost production due to failing to mitigate risk.
Before anyone tells me, yes we have had some reasonable divi payments,, but we have taken some serious risks in return and now our divi payments are wiped out by the drop in SP and market cap.
Remember also that Mr Bond & Mizolgit brought to our attention the 2015 report about the lower grades that would become apparent in 2018,and they materialised , so why the surprise RNS announcement , even the general manger would have been aware and yet he was still trumpeting 260,000oz in the Egyptian media three weeks previously!.
Those who keep racing pigeons love their birds, but if any of them aren't worth their corn they get their necks rung!
If it were China then whoever was responsible for such a failing in a part government owned business they would probably be shot!
At least whoever is responsible for this very avoidable catastrophe will get a very generous severance package,they always do in case they spill the beans about others on the board!
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