re: Ann: Further update to Incident at Enterp... The KPI they are confident of meeting for Jul ore production is 18% below the forecast for Jul from the AGM presentation. There will be a material impact on Q3 results. I do not know how big it will be as Jun production was probably about half what it was supposed to be. They may have been able to use stockpiled ore to keep concentrate production up, but all this does is transfer the impact from Q2 into Q3. There will also have been additional costs incurred as a result of this.
Albidon Action and I have been pressing them hard to live up to their obligation to tell the market about the material impact. Hiding it does not help in 2 ways. Firstly it undermines confidence in any messages they push out in future. The truth will come out eventually in Q3, when it is below expectations (should be 1500 tones of contained Ni produced according to AGM forecast) the market will probably just see it as them unable to get the mine to deliver to the levels expected and forget it was due to circumstances beyond their control.
For there own and our future good, e-mail them to put pressure on them to release the information they are obliged to release. Ie what will the material impact of the cave in be. So what if the SP dips a bit further as a result, it is in the toilet for now anyway. If they do see sense and get rid of the notes, we don't want the factors I have explained above holding us back. Albidon Action are continuing to put pressure on regarding the notes and there are definite signs that cracks are developing in the brick wall we have been bashing our heads against for months.
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