Lets lay it out
posted on
Jun 12, 2014 01:46AM
Agree with Rosehill's analysis, ie, our SP is going to take a major hit with the way the latest results were relased, and received by retail investors - ie, according to this NR, we've actually reduced our global resource - that's what the NR says - we had 4.3 mm oz in the LGZ as a pit-constrained resource - now we have a resource of 2.3MM oz, when PRB shareholders were expecting a new resource est in the 7-8 mm oz range.
How did this happen? As I, GH and others have said, mgmt decided to change consultants, and throw out the reserves from the LGZ, in favor of simply reporting tne new high grade assays -
After being associated with PRB for over 30 years, let me say, this is the dumbest rookie error I've seen in years - this impacts EVERY SHAREHOLDER - we will all take a financial hit because of the careless way this data has been handled - I'm not pleased, and you shouldn't be either.
Because there is an emphasis on higher grade deposits, in light of the recent drop in the POG, this DOESNT negate the LGZ, and a global resource should be reported.
To mgmt - wake the F up!!!!
WB