Mining costs soared posts covid? The made they purchased the mill, motel and announced it would be operational by early 2022 in the middle of 2021 - the increased mining costs hadn't impacted by then?
As for the jump in the AUD gold price; The first red line below is when they announced the mill would be built by mid 2022, the circle is when the mill should have been built and the yellow is the gold price since that point
As you can see the gold price was trending up at the point of the announcement, continued trending up over the supposed construction period and has been increasing ever since constructions was due to finish. What was the indicator to TCMG that delaying construction was the best option?
Perhaps TCMG should have been skating to where the puck is going to be rather than where the puck was?
ERM Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
