2ic I think the June quarterly results are very poor driven...

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gemboy

154 Posts.

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31/07/23

09:57

Post #: 69071353
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Originally posted by 2ic ↑

Doesn't sound so bad...

Went backwards on Qtr $24M before the delayed July shipment, backwards $15M including the delayed $9M shipment

Smoking Gun is the $20M spent on capex (mine development non-current assets)... which sort of contradicts the Mar Qtr report that CAPEX packages were closed and paid out, except for the sneaky qualification "majority" which I didn;t give enough weight to without hindsight...

And so, with too many assumptions things were not that bad and getting better, and not enough suspicious due-diligence, I assume the prone position for an expensive and painful 18c fisting. My biggest gripe is that retail was greased up for a couple of weeks between July 10th shipment not providing the details of production issues Shaws et al were, the Noosa sales pitch timed in conjunction with Shaw's "selling gone too far" Buy report. Retail got stuffed like a Christmas Turkey with inside seller's shares, and Luke has grease up to his elbow...

GLTAH

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2ic

I think the June quarterly results are very poor driven primarily by the quarterly production figure

June Qtr 26,134 wet tonnes DOWN aginst March Qtr production of 29,855 wet tonnes

Given we produced less HMC in the June Qtr I am not sure how Luke can claim "progress" with that number, and as you point out we have had a big capex spend last quarter as well, plus obviously more to come.

Again, retail holders the last to be told any bad news, and even then we don't get it all.

STA Price at posting: 22.0¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

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