Rubbish. They sold at spot as a first sale. Isnt linked to the actual agreement pricing. Cant use that at all for forecasting. THey did this of course to shake down the uninformed retail investors and delay having to actually indirectly announce the actual agreed pricing at the same time as they knew of the poor recoveries and disgraceful mine planning. As someone who has worked in the industry they constantly update the mine plan and they would have know long ago that the mine plan was rooted, but chose to allow institutions to trade on that knowledge for maybe up to 2 years. When they do a capital raise to instos, they require much more detial. This includes mine plans and other detailed info that is not public. THey then take that info and use their own specialists to verify and recreate a more realistic model and boom. Inside info. This thing is the leakiest ship i have ever encountered. Disgusting.
CXO Price at posting:
77.5¢ Sentiment: Hold Disclosure: Held
(20min delay)