First pass.... yep, they failed to include it.
At a rough guess, around $3700.... sheesh.
Luckily PNR is cheap as chips.... but therein lies the opportunity for a buyer to come in and run this asset the way it deserves.
I will give the quarter a pass, the two operational issues are disappointing, but... it happens (though...it's a new plant).
If those issues had not occurred, then production would have been another solid 8-10% increase, so I cannot really fault them on that. Plus, the plant is clearly still humming, 6 less days, yet it processed 292k ( annualized 1.68m, or at 1.24mt at full stretch).
Cash build is disappointing, even with the $9m spent on Scotia (clearly the capex was front ended). Perhaps there were extra costs with demobilizing the open pit contractors. Cash build for the Dec Q should be very different, higher POG, $7m less open pit costs, albeit lower grades due to using up the stockpiles.
Oh wait... no it won't stamp duty...
I sort of wish they would just sell Halls... that money could be used to double the drilling program... instead, it's just another $1.5m in costs to keep it lubed.
I still don't really understand why they are not simply moving straight into the next open pit.... though perhaps having the summer break is easier to staff in the new year. Hopefully PNR finally start providing a clear outline of just what the open pits will provide ounces wise, grade etc.
It's all about Scotia... if it performs well, PNR will finally be able to make real money........................
Lucky for PNR, POG in AUD just hit record highs.
Cmon WGX, just take them over....
(20min delay)