Originally posted by yanlin
Looks like a caning come this morning. There will be some that will view this result with utter contempt:
* poor margin
* poor production
* no cash generation
* no progress on SDV
* lower spod pricing
* softer outlook
etc etc
Then, others that view the world a little more positively will say:
* despite tough market conditions, production was profitable
* production for CY2019 guidance significantly higher (up to 210k t)
* nearing decision on SDV partner
* resource upgraded at Mt Cattlin by 42%
* no debt
* US$41m cash in the bank
* circa US$272m cash to be banked + accrued interest in February
* yield optimisation program completed and the benefits start this quarter
etc etc
Essentially, it will be those with the deeper pockets and the greater will power that will drive the share price this morning. Given we are 17%+ short sold, I think the more negative view will prevail this morning as they have more invested and more to lose.
It's gonna be a tough few days for the longs!!!
Terrible report out of Mt Cattlin - volume, production cost, margin, increased recovery program still not finished.
The "shorts" definitely have had the inside running it seems - loose lips ??
JP Morgan wearing two hats - "assisting" us with SDV whilst on the other side of the supposed Chinese wall lending heaps of shares to the "shorters" - doesn't seem right to me.
When will this turn around .....