My enthusiasm for Aureus Mining is waning in an atmosphere of little news and continuing problems. This is the sort of situation which rings alarm bells to me. Withholding progress reports and choosing to be very frugal with the truth is not a recipe to entice investors. We are now 6 months into the New Liberty restart, and all we see is a fading share price. There has been time enough to optimise conditions, and liaise with existing mines which use low grade ore, and seek advice. There has been time enough to despatch new inventory to the mine to ramp up the extraction process. Investors need information which addresses process obstacles, debt repayments, the amount of bullion being shipped and some forecast of future events. No good will become of this whole enterprise if these and other issues are not promptly addressed.
By Jove I have been humbugged! I anticipated a move at New Liberty to rationalisation, but of the process rather than inventory. But a clever move nonetheless! New Liberty could not have survived in this present economic environment where the cost of pouring gold equaled the current price of gold. New Liberty has some leeway now, and should the price of gold increase due to economic turbulence, then the business would prosper. This still does not excuse New Liberty for its being economic with news updates.
Will the new management at New Liberty be the ones to sink the nails in the coffin? Only time will tell. But time is running out. Investors need to be kept abreast of developments. With a gag on news, investors are fretting, but their patience is running thin.
If the new Board of Aureus seem to be drowning in technical woes, one solution would be to farm the problem out to another "player" who is more adept to fine tuning. Management have not to date declared a breakthrough on technical problems, and we can only surmise, in the absence of reports, that difficulties still remain. If these problems are not ironed out soon, it would not be too surprising for investors to jump ship, and parley with Centamin and the like, which does not seem to be bogged down in the mire.
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