Cash costs at under 20 /oz should mean that even at 24/oz silver ,the company should be profitable if there is no debt payment and if Administration costs are low. If, " all in costs " are causing the company to lose money ,then the management IS to blame .
I wish you would stop talking as if this company is on the verge of bankruptcy. We have 24/7 mining going on.We really do not need to do that if, ALL in Costs are less than net income.
Changing management is exactly what is needed IF a 2.7 million oz silver producer with no net debt is losing money at 23-25 dollar silver.
I don't think that's the case. I think a lot of the losses last year had nothing to do with the production . ,Better quality production has been achieved . The mine is in great condition especially compared to last year .More reserves and more alternative area's in case higher grade area's have problems.
The simple fact is it certainly looks like the present management has done well with the Galena but if the cost is dilution ,then all the good is undone. Anybody knows ,low silver prices should mean tightening the share structure,not allowing a management to award themselves options with nothing but falling share prices for the commoners.
Recently Mr. Blasutti hinted at Private Equity. With silver prices low,I hope he shelves any idea like that. Look around at the great explorers . Seabridge dilutes only when prices are high. Nova Gold dilutes any old time. The differences in value are obvious but it all comes down to management diluting at the opportune times or diluting at inopportune times. Winners and Losers.
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