Been crunching the production numbers from the third quarter announcement. Crikey, 850k ozs is a stretch!
Bonriko has to deliver its full 40k oz contribution; Mt Rawdon should have no trouble kicking in the 21k to meet its annual target of 50k ozs; and Ballarat needs to add 16.5k ozs to meet its forecast.
The commitment for Lihir Island is " in excess of 700k ozs " for the full year. Group production for the 3 quarters is 566k ozs so we need about 280k to fulfill the promise to the market. In reality, the Island will have to produce closer to 730k ozs to meet target as I see it.
If Bonriko falters or Bendigo's geology holds back production the the Island will need to make that up as well.
On the other hand, if Bonriko can do better it takes some pressure off the Island.
I don't hold LGL yet, but it's only a matter of time
I just wish Arthur had promised the market a number closer to 820k ozs instead of 850k!
LGL Price at posting:
$2.20 Sentiment: Buy Disclosure: Not Held
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