This is actually not such a bad result. Revised guidance was revised to ~80,000ozs but as they say the latest quarterly production is 14,312ozs but at the end of August it was 9,042ozs which means that they produced 5,270ozs in September. They also state that the plant was still only operating at 80% of nameplate but that they had run a test to show that the plant was capable of operating at 100% on primary rock feed. If you take the September run rate over 12 months and assume that it is uprated from 80% to 100% then the annual production is about 80kozs/yr. which is revised guidance. It would appear that they are getting on top of the problems and are identifying the issues.
OBM Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
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