The only good takeaway from a ‘management’ side that we normally love to tear into is this :
This is the first no nonsense report SYA has put out..
Under BL the headlines would be made pretty.. even if they are woeful. He is a salesman. The writing in between would be the full reveal.
JB has put $40m into mining improvements at NAL, the headlines are cost-galore and negative. in the absolutely riskiest period, we’ve chosen not to headline the odd $20m+ we have that wasn’t sold .. making the production <-> sales figure look a lot , lot worse than it is.
Combined with how much $ he is pumping right now (during a bearish period) to improve the stockpile and recovery costs.
JB is more suited and ballsier to the Li swings than BL. Proven after one quarter. All I ever heard from BL was ‘speed and tonnes’ as if it were magic.
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