All going to plan you say. Really when AISC is 28% above mid-point guidance up to April this year. Massive miss. Even production down below guidance before April by about 10%. ASIC of $2,600 is only 6% below the previous year.
The big question that investors need to consider is what will the 2026 FY ASIC guidance be given the huge miss this year? If it’s significantly above what the current guidance is for 2026 then what will investors do to the SP? And what will be production guidance?
It intrigues me that their guidance for 2026 FY is 150k Oz with mid-point ASIC of $1,840 when head grade in the last 2 quarters has been 3.0g/t (and not much more the this FY to date) which is low for an UG mine but the ASIC guidance is well below the average ASIC for Australian gold miners of about $2,200. How can they achieve an ASIC which is close to the bottom quartile at $1,840 with such a low head grade for an UG mine - if it was an open pit mine then it makes sense.
Are OBM investors looking through rose colour glasses ie not considering possible down side risks?
OBM Price at posting:
$1.16 Sentiment: None Disclosure: Not Held
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