Chart, page-7535

Our first bit of good news has come out this afternoon (at 3:14pm) at the expense of our friends at ORE.

ORE has missed its quarterly production by a long way (29% down on previous quarter), with a corresponding increase in production costs. The insto's will now need to factor in production variances into their supply models (as they currently assume any target number will be delivered). They will also need to look at financing of new projects etc, which will again reduce forecast oversupply numbers and lead to re-rating of companies like GXY.

It's all part of the process and this will have an impact in the mindset of some of these supply assumptions.

My thoughts go out to the ORE holders.