Correct and I would expect that the restart of Federation would be mostly development drives to get to the ore so not exactly producing a lot of tonnage to fill a mill until the development is complete and they are mining stopes proper. As you say Federation is great but required some $$$ and costs and time to get there before its making money.
My comments about the QoQ Performance metrics at The Peak was based on this section:
However I will concede that in the detailed operation description about Peak that there seem to be a lot of "one off" factors like the change to owner operator mining, new trucks and efficiencies such as less hours worked and the focus on less tonnes but quality/higher grade tonnes, plus the inevitable winding down of contract mining crew and fleet might mean that those QoQ metrics had a lot of lagging indicators/bad news baked in possibly?
AMI Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
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