Damage done now I guess. Should have known better.
Closed in London 16.25 off a low of 14.8.
32m shares traded.
I'd say the horse has bolted.
Two lessons here:
a) if faced with conflicting messages from the market (SP) and directors, believe the market! b) announcement was after market close here. All the action in London last night. We are truly in the colonies.
I think there will be little to gain by bailing on Monday and will wait for details of Operational Review at the end of the month.
"The Company is currently undertaking a major review of the mining operations, including resourcing and mining schedules and programs, in order to mitigate these anticipated losses" looks like redundancies as mentioned.
Long way back to break even for me and no doubt further for long term holders.
Yours in misery
NGX Price at posting:
53.0¢ Sentiment: Hold Disclosure: Held
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