That’s all dandy but most of these brokers are seriously not to be trusted - I have seen some ridiculously high buy targets placed on companies and most often the brokers end up chasing the share price down by updating their price targets to reflect the current trading price - It’s embarrassing.
Let’s be honest here - The March quarterly report is not encouraging by any stretch. Costs remain exorbitantly high (C1 costs have even increased by 8%) and it just seems like this AIC cost of A$8.00/lb the company is selling is coming across as fanciful (Wishful).
I feel each quarter we have been let down with the same old excuses. What is in store next quarter? The stars haven’t aligned, the moon was not bright enough? Victor’s toe is hurting him?
If the company has had to rely on managing spending for AISC & AIC in the March quarter to control costs then what happens in the following quarters when these costs need to come back on the table? Do we see a scenario where costs start trending back up again?
What happens if we do not have the luxury of elevated nickel, copper and cobalt prices? Cobalt prices are about 40% below the forecasts the company has chosen to work its costs in the updated guidance. Most certainly a lower by-product will impact costs if recovery does not take place in cobalt for example.
Too many grey areas, the company ultimately should not have to be treading water like this each quarter/ year… and who do you blame? Management?
(20min delay)