Don't mention the Flood

As far as TRY is concerned, the elephant in the room is wet weather and flooding and how the company intends to deal with this in the future. Everything was going hunky dory until there was a report that mill operators had
hosed down crusher/mill bearings causing an ingress of grit. This soon morphed into a flood with Aussie
management rushed to the mine to rectify the water problem and the re-bearing of the crusher/mill.

The Melbourne presentation skipped this crucial issue and rather than affirm that everything was under control, the CEO choose an historical waffle instead. He did, however, confirm production forecast with AISC for FY 2017.

The market, rightfully so, is skeptical which is reflected in the failure of the share price to get back to where it was pre-flood. The CEO should now come clean and:
-explain what happened
-what was done to rectify the flooding problem
-confirmation that the remedial work done precludes further flooding/disruption.

Otherwise, IMO, Mr Market will sit on the sidelines and 'wait-see" while the share price languishes.

MM