About 200 posts on the Quarterly, much easier to read the release than wade thru all these posts, most won’t.
They say the market is opened by amateurs and closed by professionals, with Wall st down, the asx will again see red today
I’ve outlined below a very brief summary of the Quarterly.
Friday the share price dropped a cent possibly due to the following reasons:
- the market IMHO didn’t understand the financials, or didn’t have time to digest them in the short trading window after the release.
- There were some high expectations, possibly on the reserve upgrade, Goolamina, drilling results etc which wasn’t included
Many of these expectations will be announced over the coming weeks, Goolamina "this Month" & no doubt the Reserve upgrade before the Webinar on Wednesday the 8th.
Hopefully the market sees it was a very profitable 7 weeks & we achieved much with the mining profits.
I think the key takeaways from the report:
- $30m bank balance including bullion
- Tailings mining revenue about double the on site mining costs
- These revenues paid for significant work at the site
- Plant is in good condition, approx $2m being spent on refurb.
- Satellite mining to commence within 2 months
- Many updates in the coming weeks
The only negatives I could see was the $3m overdraft we inherited that wasn’t previously disclosed, and the higher AISC this Q.
Add to My Watchlist
What is My Watchlist?