IMO Phase 1 of the Reset Plan, boils down to:
Prioritisation of development to new mining areas.
Key enabler of Phase 2:
Creation of additional new mining fronts through the planned drilling programs.
In Table 1 they have Plan Summary with Copper production for 2019/20 of 6,625t Cu per quarter.
That is a big improvement on:
Mar 2019 quarter of 3,985t,
Dec 2018 5,177t and
Sept 2018 4,678t.
Forecast of 8,425t Cu per quarter for 2020/21 and 8,675t Cu per quarter for 2021/22.
Plan ASIC for 2019/20 of $7,200-7,700/t Cu vs
$9,569/t Cu,
$10,143/t Cu and
$9,628/t Cu in the previous quarters.
Forecast ASIC of $6,500-7,000/t Cu and $6,400-6,900/t Cu in following years.
It's a big ask and we're not likely to confirm they've hit these numbers until the end of 2019. So buys a lot of time for management.
MLX Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
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