From memory RB, the 60koz for The Mount was a conceptual target that they hoped to get to sometime in the future. Now their target seems to have been revised to 40koz.
The shortfall in ounces produced can certainly be attributed to the CRE takeover & diversion of resources away from The Mount & open pit development.
As far as management forecasting the shortfall, I can't remember precisely. I was away overseas on holiday for 2 months late last year & didn't have access to announcements/HC during that time.
My focus now is on the immediate quarter. I'm expecting 25-30koz to be milled from Coolgardie/The Mount & 25koz from Laverton (85% to FML). If 55koz in total is produced, & cash outflow matches that stated in the latest quarterly cashflow statements for FML & CRE, then we should be on an approx P/CF ratio of 4.
Happy to hold in expectation of a good March quarter.
confused, page-48
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