Seems like a reasonable performance from a output perspective, during what is the leanest quarter of the year due to the wet season. Even with the challenges around power and lower output the cash costs are only just over the annual guidance and should improve over the next 3 quarters.
It is still hard to get a bead on what is happening from a cash flow perspective, with the debottlenecking and start-up costs associated with mining re-start - capex outflows vs operating inflows.
Looking forward to a time where the quarterly is we mined X, produced X, which cost us X and we sold it for it for X.
That is at least 12 months away.
My only concern is the wear and tear on the plant due to the HSO ores, from memory this is what cruelled the HMS plant.
GLTAH
Ann: March 2016 Quarterly Activities Report-TGS.AX, page-2
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