Originally posted by eshmun
"At the same time have a look at all the disclaimers under what the company is saying, any company."
Well there are no disclaimers on RSG's quarterly reports and so should there be as they are supposed to be accurate and fair report cards of the companies activities. The only company I've noticed that has included disclaimers on quarterly reports is ARV (I warned eveyone who would listen on that stock).
As I said in my post the company said this in the Dec 2018 quarterly report
All elements of Resolute’s sulphide processing improvement project, Project 85, have been commissioned and are operating effectively.
Significantly, during periods when 100% underground sulphide ore has been treated, the Syama processing plant has delivered recoveries greater than 85% and provides confidence in our ability to achieve targeted recoveries from Syama."
There are no discllaimers attached to this statement.
I have Colin on ignore but it sounds like he would have people believe these statements are bold face lies.
If these statements were bold face lies they would be actionable as misleading and deceptive conduct under trade practices laws. Do you really think the company would leave itself open to litigation to make such a statement. There is nothing in it for them to lie to the market as eventually the lies get caught out. They are just better omitting such statements, ie better not attracting potential law suits.
IMO the management is doing a great job in a challenging country and is going to deliver a valuable long life gold mine to shareholders, hopefully without the incessant detractors onboard. I can't wait for the day it all comes good and I don't have to read the biased unsubstantiated negativity of the downramping crowd. Notice how they are out in full force today even after the company is prudently doing their job locking in some strong hedges (at A$1,887/oz) to steer Ravenswood through and reassuring the market that they are busy and confident of making up any lost production from the weather event at Ravenswood.
This doesn't appear to be a rudderless ship to me. It looks like a strong company with proactive management that has delivered and will continue to deliver to the best of their abilities.Esh
Esh,
My comment was one of general nature about taking reports at face value. I hold JW in the highest regard and RSG is a significant part of my portfolio.
However, only idiot takes anything that anyone say as a gospel, especially when money is involved. I will try to test and verify anything I read from any of my investments including hotcopper posting. If you quote something from the reports here on hotcopper I will actually go and read it for myself in its full context. The same goes for any other opinions expressed here. When comes to various presentations and reports from the companies I invest in, I will continuously review them and test them if I can.
Even companies with the most honest management and the best intentions can have things go wrong. These can include budget blowouts, unforeseen circumstances, unintended consequences, typing errors in reports (I've seen my share of these), environmental disasters, false reports from rogue employees to the management, data feed errors, delayed reports, lawsuits, genuine mistakes etc etc ...
Also I hear you about corporation laws but have a look at some disastrous ASX listed companies that things have totally come off the rails ( I won't mention the names, I am sure you are aware of quite few yourself). Was the management to blame? Should the management known better or inform the shareholders earlier? Where is the full force of law? Only bunch of frustrated investors on hotcopper screaming ASIC and ASX and nothing seems to happen.
Again I am not talking about RSG, I am talking about due diligence needed in any investment people own.
I think people have the right to ask questions. As for the down-ramping crowd, I hope they are proven wrong and lose a lot of credibility. Having said this, I will read any opinion, negative or positive and verify it for myself.
Frankly negative opinions help me more in my investments than positive ones as in general I am a very positive person and I sometimes find myself to positive about certain investments and overlook a potential risk. These are very painful mistakes when after the fact you go, oh I wish I've read that fine print or that announcement.
This is only in my opinion, not offered or to be taken as financial advice, DYOR
(20min delay)
