Hi RT,Seems to me like they spun it pretty well while avoiding...

Hi RT,

Seems to me like they spun it pretty well while avoiding an explicit statement that they have produced less ounces than expected by this stage of 2021. The last paragraph is key:

”Resolute maintains its production guidance of between 315,000oz to 340,000oz at an all in sustaining cost per ounce of between US$1,290/oz and US$1,365/oz reflecting the additional sulphide gold production in the December quarter offset by the impacts of a wetter than expected September 2021 quarter.”

I read this as “Production is down due to weather, but it is offset by the fact the roaster shutdown is postponed”. The net effect of the announcement is to flag a reduction of ounces to be produced in 2022. Happy to be proven wrong, but I can’t see how to read it a different way.