Revenue and production looked great in the quarterly, but the costs are a bit hard to work out. "Capitalization of production phase stripping costs' are the words in the report that are a bit hard to rationalise. I can appreciate the reasoning for capitalization of development costs, but this would appear to go beyond that. Why can't gold companies all just report C3 costs?
Today was a strange trading day for Teranga because the bots were missing. Usually these algorithmic programmes make up most of the trades for Teranga on the ASX. Maybe they are saving themselves for Canada tonight, where there might be more volume?
TGZ Price at posting:
81.5¢ Sentiment: None Disclosure: Held
