It appears the management is playing games. Although I have a...

It appears the management is playing games. Although I have a buy and am holding shares, the timing of announcement suggests a really bad qtr (both on operational and cash costs level). PB delayed making announcement on the partnership until before reporting qtrly when it was quite clear the agreement had been finalised much earlier (reference during presentation). Had it not been the case, PB is a bad negotiator having told the mkt (in Sep) about the contracting arrangement and exposed himself to any last minute re-negotiations. Moreover, question why the qtrly has not been reported simultaneously.
On a more positive note, the EV of the company reduced by A$40M (or c$0.05/share) – more attractive takeover candidate/value play. Expect more consistent (although slightly higher cost) operation. The agreement has been struck at the low point in the mining cycle – should translate to better pricing terms.
DYOR