Not sure why, but after reading the presentation, it did not seem to contain a lot of actual drill results... sure, lots of plans and U/G drill targets, but... one of the best hits they mention, is 15m at 2.6g/t....
Then you have this ugly slide.... seems to jump all over the place! 1.75m-1.6m ounces.... for FY24, yet... jumps to 2m ounces for FY26, then... reduces by potentially 200k p.a...? As for being in the 1st Half of the cost curve... sorry, that does not cut it for what is supposed to be the premier Gold producer on the ASX. Then they state a 20+ year mine life.... sorry, but that is not for all the assets. It's like saying the average age of my family is 40 (total 160 years with 4 humans), yet..... the 'team', is actually made up of two 70 year old's, and 2 five year old's! Also... they don't show what this 'cost curve' looks like.
Finally... because I am grumpy with such a 'proven producer' publishing such lazy presentations.... how can they state POGO is 'Sustainably low-cost'. It has not ever been low cost in NST hands.
Perhaps I am reading it all wrong though? Interested to hear others take on it.
NST Price at posting:
$11.49 Sentiment: Hold Disclosure: Not Held
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