Solid performance by Matsa - a jewel for which SFR paid a king's ransom.
The key variable is the ramp-up of Motheo. As I have observed above, reaching name-plate production can be quick or take years. The former looks likely, to the great relief of all.
Mr Market is buying the narrative, +5.3% as I write. Today's webcast will be fascinating.
I wish BH & team could buy Khoemacau, but the timing is awful with the SFR balance sheet at full stretch. Yet, who knows! If Motheo can show even one quarter of Mother production at/near 3.2mt pa, then anything is possible.
As BH says in the slides: "Motheo to achieve initial 3.2Mtpa processing rate on a sustainable basis in Q1 FY2024 before rising to 5.2Mtpa in Q4 FY2024 with completion of the expansion project."
A dream run is possible.
Ash
SFR Price at posting:
$6.32 Sentiment: Buy Disclosure: Held
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