Re being pleased : I too laugh at this as it starts every ASX announcements, regardless of how tragic the content of the announcement. But what is the likelihood of an announcement beginning with something like "It is with deep regret" or "the directors are disappointed to report" or "the directors have really cocked up this quarter and so reluctantly report blah blah blah". I think the chances are low
Re the qrtly : it's a little sad but having looked over a lot of ELE's past announcements, not surprised. A couple of standouts are:
(a) the rain around Tenant Creek did dump late December and early January and so would stop any real activity as will forward wet seasons. what's disappointing though is that the announcement is suggesting zot shipments from Tennant Creek to Darwin Port post October 2022. One could be forgiven for assuming that they would have continued stockpiling in Darwin for the period November -> mid December (6 weeks). Maybe they did and just haven't stated it but given past form I suspect there is very little in Darwin. I note also had they been delivering against the PPA there would have been additional cash flow, but that is not eveident in the operating receipts line ...
(b) the rain in WA looks to have pushed back the Cu/Co recovery plant by at least 3 months. I think the reality is that teh plant wont be commissioned until June 2023 in which case it will make zero contribution this financial year ... despite what the presentation in November 22 suggests ... sigh
Otherwise, I suppose it's one foot in front of the other. The story still looks good but it's becoming increasingly difficult to believe the story teller
have a great day!
