Current prices would affect ore that was shipped a couple of months ago due to provisional pricing.
Ore shipped today is subject to what the price is in a couple of months time.
However, I don't think we are shipping much ore this quarter due to work on the haul ramp.
I think the guidance of 3mt (down from previous year guidance of 4mt) is largely due to work to be done on the haul ramp in the current quarter.
So I am thinking this current quarter won't look too good. The $27.3 million recently received from insurance will contribute towards offsetting loss of revenue due to haul ramp work in the current quarter.
I am thinking this quarter was priced in by the market when Peter made the announcement about the haul ramp and guidance of 3mt.
Once the new haul ramp is finished we will be back to one million tonnes per quarter for fy25 with PK stating further improvement in fy26.
MGX Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
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