Hey Forbearance, wish I had your confidence of hitting 25k. I think they will only hit 23k, unless Ok/Star has a particularly good quarter. Everything is going in the right direction, albeit, at a PNR pace, versus say... other more, proven producers (I could list a few!).
I think the sell down will be short lived, as really, PNR spent a huge amount on exploration in the March Q, with... much of it yet to provide results to the market. They will come. More rigs are arriving and U/G drilling is ramping up across the portfolio. Jan/Feb were clearly very poor months, with... production being around 5-6k per month, but... that is what happens when you don't have a high grade open pit on tap to supplement any misses from the newly ramping up Scotia U/G mine. I do agree, it reads better than BGL, but.. alas that is not a huge confidence boost! Would much prefer to be comparing PNRs Quarterly to some of the proven producers.
Plant continues to hum (praise the team that runs it!), Ok/Star had a solid quarter, but.. it shows that the Dec Q was above average.
Open pit... going to be able to provide a small amount of ore... at least the grades are better than the stockpiles!
Going to be very interesting to see what FY26 guidance is....
I can only hope that PNR actually updates their mine plan!
So much potential at PNR, yet here we sit, the laggard of the producers in W.A.
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