By disappointment I’m referring to the early 2020 capital cost blowout followed by the recent admission that the operating costs for their base operation had blown out to levels approximating those of some secondary producers.
The later has resulted in a relatively small output increase and a relatively large cap raise.
What they have achieved, as in the first to produce is a significant milestone but there has been no recognition from the market given the strong exchange rate and current SOP prices. Add in the dilution and the current situation for shareholders, particularly long term holders is underwhelming.
Its easy to be critical but it was and still is a relatively small project that probably over promised on a few of their assumptions.
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