Pity they didn't give a revised, lower guidance for Q3 and Q4 , as i don't think they can achieve what they have stated, and the share price will be treated accordingly.
I note the following: Tietto is now processing fresh ore from the AG core but is yet to build significant
stockpiles of ore to allow preferential feeding of higher-grade ore.
ie. Mill feed is hand to mouth, and grade is not yet at DFS levels. we are 1 month into Q3 already. Therefore Q3 is highly unlikely to meet guidance ( of 52.5-60.0 K ozs), or they are expecting Q 4 to be an absolute blinder.
Better to understate and over achieve. A history of continuously failing to meet guidance does no one any good.
Things are moving slowly with Tietto, but at least in the right direction. I remain frustrated but still positive in the medium to long term.
Anyone going to Diggers and Dealers ? please ask Matt what July production was.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-4
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