CEO Martin Purvis said: "The ups and downs that were experienced during the start of commercial operations continued into the second half of 2016. With the benefit of hindsight it is evident that many of the original production targets were based on assumptions that only partially recognised the full extent and nature of the pioneering conditions at Karouni.
Looking back there is no doubt that too much was expected too soon and this placed an unrealistic burden on the workforce on site.
TRY Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held