nice entry prices atm, page-5

There was a market assumption that everything had been sorted until the
mid Sept ann on the Lihir problem which winged production for 3 weeks.
This ann started the rot from $30 downward.

When I inquired 4 weeks later about the Lihir problem, I got a guarded and
terse reply that Lihir was back in production. The market is still not convinced
that Lihir is permanently fixed because the company has gone on and on about
the poor condition of the Lihir plant. The company should have given better
and timely info to the market regarding production impairment and repair costs.

Someone should tell management to stop whinging about Lihir and get on with it and fix the problems. They bought Lihir with their eyes open and they should have factored-in repairs and upgrades. The market has had a gutful of their whinging and that, IMO, is why the SP is sub $22. My guess is we'll have to wait
until the Dec Qtr results due at the end of the month to see if the gold poured has improved and that costs are going south. And we need ROE well above 15%.
( its 7.77% at present)

We now need a lift in EPS & yield to move the SP back above $30. New blood in
management would also help.

Cheers
Moorookamick