I’ve seen worse but these aren’t great hits. They’re not even good hits. You also have to wonder if the company was so excited by them, why release on a Friday before the long weekend. Smacks of disappointment and an attempt to bury them from sight.
What’s worse is that the company is definitely going to be raising cash soon so if they were hoping for a quick pump to raise on the back of these results, I suspect they’ll be bitterly disappointed. MC is low but it reflects the company fundamentals IMO.
Risk of a steeply discounted remains. In fact, the risk of a steep discount is higher now on the back of these very disappointing results. Plenty of other good goldies looking to raise at the moment so they’re competing for dollars against much stronger projects. Very tough sell.
Best of luck to SH but there’s nothing here that justifies taking a position yet. The price will be considerably lower in the ST and with a tonne of supply to be created.
A1G Price at posting:
10.0¢ Sentiment: Sell Disclosure: Not Held
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