I would like to open a discussion on the current levels of production, or should I say the lack thereof. Current margins and future expansions are getting a lot of air time, yet even now after another full year of production they are still short 5,030tpa. E.g. during March of 2016 it was communicated that nameplate capacity of 17,500tpa should be achieved by September of 2016, and I realise there's been a number of challenges since then, but 2 years on and they're still not close....
I would welcome any insights into this. Perhaps I've missed management talking to this point? I remain invested, but the track record towards achieving 17,500tpa is a worry to me. Should one be concerned about the potential for a similar outcome with respect to the expansions? I cannot help to wonder how different cash flows would have been at this stage, had they only achieved the prices forecasted at the start of the project, but at the current 12,470 tonnes production level for FY2018.
ORE Price at posting:
$4.37 Sentiment: Hold Disclosure: Held
