Vault I still guiding FY25 production of 390 to 410 koz. But as at the end of Q3 had only produced 282 koz. That means they need to produce 108 koz in Q4 which is miles more than they produced in Q3. I'd love to be wrong but unfortunately I don't believe them. And that's the problem with the company and the reason the share price is so low. Because the management just don't seem credible. The Q3 quarterly production was really low without a decent explanation. And the full year guidance seems too high without a decent explanation on what they are going to do in Q4 to achieve such a big increase over Q3. The company had an opportunity in this presentation to revise their guidance to a more realistic number but chose not to. If I am right and they miss guidance after re iterating it in May then there's a big credibility issue.
VAU Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
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