so in a nutshell it was bad management, but why? weren't they...

so in a nutshell it was bad management, but why? weren't they doing well in the beginning when the stock was near 80c+ from the directors point of view, who would they blame? the climate? the gold price? the workers/miners? the financial markets?
this is NOT cross promotion but I was thinking or investing into GOR as everyone there reckons is so cheap, but that could end up like BDR as well couldn't it?
I guess this sector is just very high risk, even if on paper everything looks great