Calling a spade, a spade. Not a great quarter with XE getting double whammied.
"Mining rates at Xantho Extended were lower versus the prior quarter due to ventilation constraints and localised impact of seismic activity late in the quarter, which contributed to lower development metres (Mar-Qtr: 612 metres vs Dec-Qtr: 969 metres) and a lower proportion of total ore mined from Xantho Extended (Mar-Qtr: 33% vs Dec-Qtr: 48%). An update to the full year mine schedule, that incorporates resumption of full mining rates at Xantho Extended from early-May, is forecast to replace up to 100kt of Xantho Extended ore with ore from other Gossan Hill sources, with no impact to 2025 production guidance."
Adding to this with comments from the conference call: - The "ventilation constraints" relates to the breakdown of a primary fan, that has since been replaced. A rebuilt spare is expected to be onsite by early May. - The seismic activity caused a narrow dolerite intrusive to intersect the decline. Rehabilitation is required with decline advance expected to recommence early May.
Considering XE being the higher grade source, not liking the issues with the golden goose.
29M Price at posting:
13.5¢ Sentiment: None Disclosure: Held
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(20min delay)