This is basically the best commissioning done in Australia that I have seen in recent times.
Way above my expectations for gold being produced... they are looking like achieving over 10k for September, if they have no further down time. That is before they even get up to their full processing capacity of 5mtpa (I expect to see them getting closer to 11k per month, or... above 130k for the first few years..... wow (and I feel that is after including recovery rates).
Cash position is also very impressive, especially when taking into account the extra cash spent on construction and payables...
I would hazard a guess, that they are already at commercial production, but... prefer to announce it at the end of the quarter. That is likely seeing them build cash at upwards of $10m per month. First debt payment of $5m in September, looks to be a non-event and just adds to how impressive they have been.
Yet you have the likes of OBM, who started commissioning earlier than CMM... struggling to survive.
Very much like the clarity and detail in the announcement, but then... they have a lot of good news in there.
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