Some of the figures in the Nifty Reset Plan already look a bit rubbery and it's high time that they either revised them or confirmed them.
I'm particularly referring to Table 1 figures for FY19/20. They're stating there that they'll produce 26.5kt of Cu for the year - to achieve that the quarterly figures would have to be something like 5.5kt for 9/19qtr, 6.5kt for 12/19qtr, 7.0kt for 03/20qtr and 7.5kt for 06/20qtr. That is already a big ask after what they produced last quarter and what they said in the conference call. They did not repeat this guidance in the quarterly.
They also said that they would reach production rate of 28kt/pa during the March 2020 quarter.
Also the Table 1 figure for Project Capital of $17.6mil for FY19/20 seems light on considering what was said in the conference call.
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