Well, Salaro has not lost millions, disappointed as I thought it may do better than break even, but we know there was down time to implement improvements, if they are consistent through the next quarter its a lay down that positive outcome will occur. And look at the diesel credits, 20% less than the March quarter, less fuel used. but Rob said they would be higher, and I was lying, must have been a one-off event in January to cause this, Comment please Rob.
As other such as Geordy have mentioned the September quarter will be the make or break but on this, I am more confident on it being a make. Production is positive, staff and financing costs a drain but there was still a significant capital purchase in the figures. Quarry the disappointment but I am sure as the repairs to roads etc, gather momentum things will pick up, only a bit of sugar anyway.
With increased grades coming it looks like profits are coming. Good to see G6M, whilst still being behind, also looked better.
tungsten prices reduced lately, but not by a lot, hopefully will reverse back higher,
EQR Price at posting:
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