I'm not so sure this isn't the start of change for the better at ORE.
I can't believe Martin the new boss wasn't responsible for the decision to make this announcement. Would it have been made at all, or in as timely a fashion, by Richard?
Also good to see a rather pessimistic production outlook - same as last year, despite the fact that there's significant new pond capacity being constructed and coming online. If they ever get around to installing crystallizers, that will provide further mitigation of the impact of adverse weather conditions should they occur. So perhaps a chance to outperform expectations at last.
Future outperformance plus timely announcements on any events with negative impact are the best way to make ORE less attractive to short-sellers. For example, I wish they would start reporting production figures on a monthly basis again as they did a few years ago.
ORE Price at posting:
$2.96 Sentiment: Buy Disclosure: Held