Processed on the coast and then converted into slurry and pumped...

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Rleonars

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04/06/21

09:18

Post #: 53640574
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Originally posted by sydneyguy: ↑

SBm has a history of multiple downgrades, but usually they still talk up the future when they stumble or have an issue that needs to be sorted out....I found this one somewhat unusual in its tone and content VS their past history

Obviously they withdrew guidance because of on ongoing investigation involving the death of a worker which is not concluded. And obviously until Authorities are totally satisfied that workers are safe and they give thier permission to fully restart SBm will just have to wait, sure I get that

But I would have expected them to say guidance is a minimum of X( production to date) but obviously with no control over the investigation we are totally co operating with we cannot be sure that full operations will recommence before the end of the financial year and therefore therefore we cannot give a top of the production guidance.

rather than - we just withdraw guidance.,,seemed a bit half assed to me to me by management to honest

It did quite well yesterday imo considering the fact that withdrawing guidance because production is still halted but costs on site are still being incurred should mean pressure on ASIC guidance for the whole company I would have thought. See how it goes today with etfs down but gold AUD down not much due to the smashing of AUD

I think the real pressure may come from the additional disclosure regarding the tailing dam pipe, info seemed a bit vague to me- again with certain things needed from authorities over there for the extension ( is my understanding) this could potentially mean a delay in future development targets and /or additional costs.......

Can someone with mining knowledge explain the" deep sea tailings pipe"?

Am I correct in thinking from this announcement that tailings from the mining operation are pumped into the deep ocean?...

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Processed on the coast and then converted into slurry and pumped into the deep ocean. Yep.

https://www.australianmining.com.au/features/an-alternative-deep-sea-tailings-placement/

SBM Price at posting: $1.88 Sentiment: None Disclosure: Not Held
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Processed on the coast and then converted into slurry and pumped...

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