FY 50000 oz total with a forecast of >100000 oz next year.
You would need to be a super optimist to believe that forecast!
They missed their own end of forecast of 55k - 60k oz made at the end of Q3 by at least 10%.
No wonder the share price won't improve even with relatively good news of reduced production costs $1081/oz ($1492 pcp).
Also noticed the stockpile of log grade ore increased from 12000 tonnes (1.78g/t) at the end of March to 32000 tonnes at 1.9g/t at the end of June. 51 oz was recovered from the stock piles.
So will be looking to see if they can ramp up to 20000oz production in Q1. If so, the share price might get above 30 cents IMHO.
NGX Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
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