‘Obuasi mine turn-around is critical’

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• Kwasi 11 years ago

  Among the reasons given to selling AGC was that Anglo Gold had the money and technical know-how to develop below the mile already mined. So what have they done on this? 17 Level Decline? What exploration programmes have been ...
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  Among the reasons given to selling AGC was that Anglo Gold had the money and technical know-how to develop below the mile already mined. So what have they done on this? 17 Level Decline? What exploration programmes have been done since purchasing the mine? My Lord, we need better answers to the problems of AGC!!!!

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• I_vex_proper 11 years ago

  There are no better answer because persistently, people have put the cart before the horse. They talk about low gold prices as if 1200 to 1300 $/oz is normal and has always been the case. Gold prices may have dropped but they ...
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  There are no better answer because persistently, people have put the cart before the horse. They talk about low gold prices as if 1200 to 1300 $/oz is normal and has always been the case. Gold prices may have dropped but they are at appreciable levels too if you look at things beyond the past 15 years.
  
  The real issue is poor planning, poor implementation, refusal to face the truth, sycophancy and greed. If the company had an adequate and realistic life of mine plan and had followed it well, they could have maintained sustained production levels that would ensure comfortable cash flows.
  
  They talk as if mechanization is a new thing coming to Obuasi, forgetting that underground electric operated railway system for tramming is a luxury most organizations cannot boast of, not to talk about remote controlled scoop trams etc. what kind of mechanization are they talking about? as for infrastructure upgrades, my great grand father in the village knew that he had to replace his thatch roof periodically and planned for it. That should not be an excuse for running an icon like the Obuasi mine into the ground.
  
  17 level decline indeed. there were declines linking work stations all the way to 41 level more than 10 years ago. Tweaaaa!! Some progress!!!
  
  If you invest in ostrich behavior and sycophancy and ignore the truth while praising mediocrity, a failed giant is what you get.

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