Pursuant to release of the Annual Report I emailed a number of concerns to David Round the CFO, along with links to threads discussing the Annual Report & confusion generated by it both here & on iii. To his credit he got back to me in very good time with a detailed reply: whilst he could not address my concerns directly in detail as he is on a site visit in Zambia he DID provide a detailed picture of where we are at now & the picture is a LOT more rosy than could be gleaned from the Report. For instance the 6.91 $/lb figure for sales revenue is way removed from the figure I have been quoted, which is not far short of 10 dollars. The cash costs are lower than the headline figure.
Expect a lot of serious news flow in the near future, perhaps including clarification on the Report. Add to this commencing of the marketing campaign & the broker visit to site. A lot of stuff has been on ice pending the release of this Report first. The LOM was not, contrary to previous advice, part of the Report but will feature soon.
ALB Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held
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