There are a few ways to look at this now.
Firstly....putting aside the wet weather...the startup has been ...well...underwhelming. No point being in denial...this quarter should have been around 20,000 and I suspect AISC will also be disappointing.
Having said that I think most of this has been priced in and typically and understandably we have seen a bit of panic selling this morning.
Are there any positives? YES...we know there is a stack of gold there at good grades but yes the geology is tricky. The plant is refurbished and works well.
Maybe we need a more mine savvy management now.
We have a low SOI for this stage so that leaves some CR wiggle room .
The AUD is stupidly high and most pundits reckon it should be in the low 70s...that would help. So also would be a solid rise in POG.
As in all gold stocks it is half the companies fundamentals and half the macro.
I notice the tone in the ann is much more subdued...lesson learnt perhaps???
Good luck to holders
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