1. Less quantity than Dec qtr
2. Lower selling price than Dec qtr
3. Higher cost than Dec qtr
that's why they getting smashed at the moment.
But the good thing is
1. Less quantity than Dec qtr (temporal due to weather)
2. Lower selling price than Dec qtr (temporal due to selling more lower quality fines in March, and increasing inventory of higher grade ore)
3. Higher cost than Dec qtr (management needs to wake up)
So if you are holding this on the LT, i don't think it's all dark and gloomy at the moment. Not yet. Depends if USD$60/tonne holds
AGO Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held