Undoubtedly a great result, made all the more supercharged by the highest price in AUD pog seen to date (average over the June Q). They are already approx 2k ahead of schedule for Penny, so I wonder if that trend will continue and they bring forward extra production at Penny, because... it sort of super super charges current production and just removes the tail end of Penny production.
IMHO bringing forward production from the Symes deposit has potentially made a big difference for Edna May (but only the quarterly will confirm this), which implies that as Edna winds down, costs will increase. A few more bits of news is likely to come over the near term for RMS.
Dividend (upgrade?)
Guidance for FY25 (already provided in the Jan 2023 3 Year plan), but... they were able to shy away from actually stating Edna May is closing. Though I wonder if they will be able to eek out another quarter of production into the start of CY25.
Rebecca/Roe PFS and updated MRE (both late)
It is interesting to note that in the past, RMS production updates post quarter are inconsistent and... never includes a cashflow waterfall chart for the quarter or for the Financial year, like todays does (ok... we at least for the past 4 years... I gave up checking after that). For sure, RMS have every right to crow about the quarter. It' s their best by a long shot, especially when you include the Musgrave stamp duty payment. What is interesting, is just how pivotal Penny is... because of the $315m in free cash, the majority is because of Penny (i.e. last 2 quarters added approx. $263m, or 83.5%, all when Penny was in production). Which is a double edged sword, great while Penny lasts, not so great when it runs dry.
Almost like RMS are trying really hard to explicitly show the market, they are bloody profitable right now.
I wonder why.....
Who would have thought a Golden Horse would be chasing down a Spartan warrior
(20min delay)