All good Walton. I continue to really really struggling with their numbers....They mined a total of 4700 ounces... the rest came from stockpiles.... I just don't get it. Very little detail in the quarterly about... everything really. It's an ugly quarter, why not just be open about it, provide all the gory details and then.... when things turn around, investors know they are getting the full picture.
Basically, they lost $28m on the project for the March Q. I almost wonder if they should have shut the plant down for 3 months, to enable the U/G ore to be built up, plus the open pit at Scotia. Instead they are just keeping the staff occupied, whilst, loosing money.
From memory, the MD of PNR mentioned that they would basically be break even for the March Q, with cashflow being built in the June Q, but.... I cannot see that happening. Will be interesting to see if the J/V provide a production update in early May, if they don't.... then I will assume things are still going slower than anticipated.
I have a small holding of TUL, which.... if the deal goes through, will have an entry price of around $0.047, which at the time of purchase, seemed to a low risk entry. I am slightly less certain of that now.
PNR Price at posting:
7.0¢ Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)