I am biting at the bit to get back into this business, but alas, it is not the right time. The FYQ2 was a disaster - missed guidance yet again.
The current (Q3) looks like it is going to be another disappointment. 60% of Jan month was a write-off. The est. cash flows for the quarter imply that production guidance will be missed again.
This is shaping up to be a very good turnaround opportunity if you can exercise some investment nous. The devil is in the detail at the operation level; equipment/plant CAPex, and OPex increases to ensure mining fleet and raw materials (diesel) adequately service the operation will have an impact.
Ann: Quarterly activities report , page-2
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