BB, I think you are being a little too generous to Richard's interpretation of reason for the production of various grades.
Until December arrives, they have a choice of producing a smaller quantity of high grade or a larger quantity of lower grade. More income is probably achieved by producing greater quantities of the lower grade material, but some contracts have demanded higher quality.
Once December arrives they should be able to produce nameplate rate of high quality which they can sell into whatever market segment they want.
For those who have been lamenting the loss of monthly reporting I offer the following. During the plant improvement stages the production would have fallen as the system was taken off line. Rather than have the market see volatile numbers with a monthly reporting regime, a three monthly report would smooth the numbers and maybe keep the punters happier than would have been if there had be a decline in one month.
Separately, comparison of Audax's data with the companies report for the previous quarter indicates there has been a sufficient similarity to give us reasonable confidence about future company reports based on export data. Q1 FY17 report should be pretty good. Hope they report actual income as well as production quantities. I would think it would be pretty hard for the market to ignore the dollars.
And BB, good luck with your recent share purchases. Notwithstanding, in theory subscribing to a trading philosophy that I should wait until the price starts going up, I have nearly run out of cash.
ORE Price at posting:
$3.30 Sentiment: None Disclosure: Held
