SBM are a complete mess. Gwalia. If you can't reliably and profitably both plan to and then actually produce gold on time on budget at this stage in this ancient mine you never will.
The tripe about how great it is having one contractor and improved efficiencies etc beggars belief. I mean really who thinks this is a smart idea to put into this update.
There were not one but three buggered up stope blasts during the quarter and as a result we now have reduced gold outputs AND the unit cost guidance has been withdrawn. There is no cost guidance - ffs!!
And at what point did the train wreck stope blasting affecting production and killing costs become material?? On Tuesday April 4 2023 - ya reckon?!
And finally, why aren't SBM already processing KIN ore? 'Industrial Logic' is the new catch phrase! This logic should exclude egos and quickly maximise shareholder value, but won't.
SBM Price at posting:
64.5¢ Sentiment: None Disclosure: Not Held
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