Rob,
The ann clearly states that the spike on 2/10 should not be taken as representative as it resulted from catch up of dore production missed on 18/9. The next para goes on to say production should be maintained at around 850oz per week. As the average of the last 3 weeks is about 850 I believe that by using the word maintained they are saying that the 850 oz we are currently producing will continue until March 2015. I can’t support your assumption I am afraid, I would expect more on 18/9 than 11/9 because the recovery rate appeared to be slowly improving.
I see 850 oz as the real number, certainly not artificial as it is simply the average of the last 3 weeks during which there happened to be a hiccup where some production in week one was not accounted for until week 3.
I would be very happy to hear that they are producing 950 oz Au equiv but I don’t for one moment believe that is what this announcement says. Methinks you might need to flick the rose coloured glasses.
PGI Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
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