Sorry for offending, my bad. Needleless commentary and it wasn't the start to the day I wanted. Specifically, I was referring to our longish running debate over how much cash Kwale was going to throw out each Qtr, year and I was convinced the glory days were over. Todays released makes that a lock, and should also put a stop to the dividends. Costs are pretty much fixed, and the lower volumes come from struggling with the slimes and o'size clogging up the plant not just slowing things down to save on opex. The receivables I have included in the spreadsheet, happy for someone to point out what I may have missed...
Market seems to have taken the mining rate downgrade reasonably well, probably because everyone was over it with their analysts or hints from management already. Regal was over it early also obviously. The upside to riding BSE down into Kwale cashless death throws was a Toliara deal that papered over those cracks. That was the gamble and I lost, Madagascar government just keep on dragging their feet, and despite what I post it's hard not to think "maybe it will be this quarter' when management are so aggressive in selling "deal soon".
Sigh.. GLTAH
BSE Price at posting:
16.8¢ Sentiment: Hold Disclosure: Held
(20min delay)