what happened to this stock, page-21

Some of your very detailed post is reasonably close to reality. It’s very easy to generalize when you have limited real information (especially what’s been served up in the last 12 months) I suppose.

More’s the point there were so many duds through the company from top to bottom (more at the top) and the incorrect information they put out there to cover their own failures would help with all the miss information over the years.

“Over staffing with high costs” – how do you come to that conclusion? More like “A number of senior managers who were totally incompetent (as in you wouldn’t believe it unless you witnessed it). Had their own agenda’s and cost a fortune in both salary and through the impacts of non-performance”

“Gold price collapse” ? The so called decision to not mine Kavanagh after last Aprils board meeting was only two days in to the “Gold price collapse” – The Kavanagh report was not taken into account when the decision was made to close Coyote. Gaining control of the company and all its potential with the surrounding land was the point of closing Coyote (whilst leaving behind 2 fully developed stopes ready to extract after several millions had been spent getting to them)

“Restarting Coyote will require extensive underground development work - I believe greater than just the 300m of decline that was originally anticipated” – 300m is nothing given the experience and productivity of the owner operator mining crew that were all sacked. They could of reached the ore within months and kept cash positive while doing so with the stopes that were ready to extract.

There is no denying Tanami has a history of high and lows. But reading some of these posts, the truth on a lot of things hasn’t made it out there. Agreeable points? 1, shareholders have all been fleeced. 2, two hundred or so workers lost their jobs for no reason (apart from point 3). 3, a sizable Australian resource has slipped into the hands of an overseas corporation.