I can understand where you are coming from but the problem is you can't evaluate Tony Polglase's commentary in that manner and get an accurate appraisal. (IMO)
Here is an example of what I mean (and they are in every historical announcement):
From the December quarterly
"Commissioning to commence in current quarter", technically correct, conservative but failed to mention (appropriately so) that commissioning would also likely conclude in the current quarter.
"Management believes the Company remains fully funded to advance Antas into production and is debt free", technically correct, conservative but failed to mention (appropriately so) that there are lots of $$$$'s in the bank still. A few days we find out how many, when they disclose cast your mind back to this conversation point.
"Planned drilling at Pedra Branca East will target increasing the confidence level for the Resources to the Indicated category and facilitate design of the proposed box-cut ", technically correct, conservative but failed to mention (appropriately so) that there are plans too...??? (Get down there as fast as possible?)
I think you'll get my drift.
AVB Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
