The market on observation doesn’t have confidence in management to deliver higher production or deliver on strategy.
The senior managers/insiders also sold shares last year just before the gold price boom, one has to question their wisdom in selling their shares just before a gold bull run.
From memory the merger documents had a forecast of 445k ounces and now this financial year they are planning to end with 390-410k in ounces (market was not happy with them), and some of it is hedged.
There is a post from Sam which makes sense.
But definitely a company with a lot potential and very much undervalued at the current gold prices.
Hopefully the board can pull their fingers out and ramp up idle mine sites and ramp up production.
Opinions are like arseholes we all have one. My 2 cents on the matter,
Who knows the QTRly might surprise us. On the way to 50c.
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