But (IMHO and I am no expert nor do I claim to know what is in other people's minds) it appeared to me that people didn't understand how an operation's ramp up works. Its not tuning on a key and money flows out at the other end.
For example, Mt Cattlin achieved nameplate throughput in April, but it wasn't until June that OPEX showed signs of falling. I have no doubt that the apparent good production performance (based on ship movements) means the OPEX will be significantly lower again for the September quarter.
However, from reading the comments on this site, and from high-profile Twitter 'Prophets' it would appear that there were those who really did expect a switch to be flicked and cash to flow.
I just get the feeling that the shorters and the mining newbies fed off each other to suppress the price.
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Caveat - my 'area' is in the dust-on-the-boots fundamentals. What is the project really like on the ground. As far as I can tell, MC is solid. JB is solid. SdV is stretching my self-critical credibility due to my being a brine noob so I won't comment other that to say "I can't see anything in particular that would be concerning".
GXY Price at posting:
$3.14 Sentiment: None Disclosure: Not Held
