Ann: CENTURY OPERATIONS AGAIN DELIVER RECORD METAL PRODUCTION, page-47

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ClenAndTren

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09/10/19

22:09

Post #: 40803753
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Originally posted by Bonies: ↑

im not defending the performance of NCZ in fact it’s been pathetic in terms of delivery on a number of fronts.

Only mining at 6mtpa v 8mtpa for the first 3 quarters and not having the plant completed is debatable who’s really to blame (ultimately it’s the company). Also doesn’t help that the macro has turned against them in terms of zinc price and TCs.

As for being opaque they clearly state that this was a production update like they have done many times in the past. Quarterly cash flows and activities reports to follow at the end of the month as per the last paragraph of this update.

Cash and recievables are stated at $53m as is the development spend and sustaining capital for FY20 showing a reasonable cash surplus post spend.
I just the latest CS report suggesting the company maybe cash flow positive for September.

Cash costs are coming down 19% for the quarter and even more if you look at the September run rate. Zinc price also dropped but at least operations are generating positive earnings. Not like some of the numbers being touted on this thread. My take which is substantiated by properly qualified resource analysts is that assuming no change to the macro front that no more raising are needed which the shorts are banking on to cover.

Im not going to spell out what playable zinc means as I would prefer the shorts to keep going but it’s not all doom and gloom as they are making out.

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Do you think you could post a screenshot of the CS note, Bonies?

NCZ Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Ann: CENTURY OPERATIONS AGAIN DELIVER RECORD METAL PRODUCTION, page-47

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Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

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