Commissioning is not flicking a switch on.
Reaching commercial production is not a quick undertaking either.
In the most recent presentation the MD spoke at, he clearly states they are pouring gold and ramping up production. IMHO there really is nothing more he can say until they actually have achieved commercial production, or, they have had an issue that is commercially sensitive.
The falling share price is very disappointing, but I would argue that the reason BLK has fallen proportionally more than others, is because it had a big run up (ran too far) and hence, its fall is more pronounced. Yes the lack of news hurts, but ramp up is not usually an easy affair, and BLK is simply proving that.
I still don't really understand what the mid tiers are waiting for within the sector consolidation wise. Goldfields has locked GOR, the likes of NST, MLX, RRL, SAR are all looking for acquisitions (not all announce it so loudly). BLK offers a unique set of numbers if they hit production and later prove that expansion to 200k is viable.
My top picks in the sector as being targets are BLK, GCY and DCN.
With so few options available locally for the mid tiers to expand (other than organically, and that takes almost a decade), it has to happen soon.
BLK Price at posting:
53.0¢ Sentiment: Buy Disclosure: Held
