Hi true believers.
I am slowly loosing confidence in management's ability to reasonably report LNY's production figures so that MR Market can get
a reasonable handle on LNY and its prospects going forward. While the company seems to be mostly concerned with lollies in the bank
@ 30th June, market fundamentalists wanted to know the following for the June Qtr:-
We needed the folowing to the 30th JUNE!: (not to the 16th June or the 21st July)
-Total ore mined
-Total ore processed & average grade
-Recovery rate ( we assume 98%)
-Dore produced
-Gold refined
-silver refined
-Gold sold & average $/Oz & if hedging occurred ( If there was a hedge,it should have been reported to the market at the date hedge was struck)
-Silver sold & average $/oz
-Inventory of unsold gold & silver & dore ( without a hedge, it would be physically impossible, IMO, to have no unsold inventory @ 30th June)
IMO if management cant report in a forthright/normal foremat then Mr Market wont trust it, IMO.
Just have a second look at te June Quarterly:
-Page 1 states that Gold sold for the Qtr was 6966 ozs with LNY's share being 2329 ozs for $4.33 mil; the rest does not apply to
data at 30th June.
The standard foremat for a gold miner is to chart mining/production/revenue up front for the quarter to 30th June and then an addendum
of significant events post 30th June to date of report. Instead we get a dogs dinner of dates and stats the befuddles fundamentalsts.
Perhaps that's the intention?
This, IMO, is why the SP is languishing down at 0.9c - 1c. Mr Market is saying " I dont trust you and i'll wait until you prove drilling and
lollies in the bank later"
All IMO, only.
- Forums
- ASX - By Stock
- SVG
- Ann: Agate Creek Gold Production Update
Ann: Agate Creek Gold Production Update, page-347
-
-
- There are more pages in this discussion • 333 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
LU7
Discover the strong preliminary feasibility of the Bécancour Lithium Refinery, showcasing resilience in a low pricing environment and a strategic plan to capitalize on future price recoveries
Add SVG (ASX) to my watchlist
(20min delay)
|
|||||
Last
2.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $6.183M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
CC9
Chariot Corporation (ASX:CC9) refines Black Mountain strategy, launching Pilot Mine to seize U.S. lithium opportunity
SVG (ASX) Chart |
Day chart unavailable