re: another underperforming quarterly
To add to Stone Pony's excellent summary - now that I have received the report --
The delay in Stage 2 is basically caused by minor technical management of second hand equipment sourced from various locations - mainly Australia? The management continues to produce significant progress at lowest possible costs. Some may be able to research the difference in cost between obtaining new equipment and the cost of the second hand equipment! Would be very significant I believe.
The mining contrctor went bust! Anvil management already had in place contractual agreements to ensure that there was no prolonged complication. Management moved in and took over both personnel and equipment so as to continue operations without a major stopage. More efficient vehicles, etc have already been procured and are obvioulsly being delivered now.
Part of the complications caused by contractor's bankruptsy resulted in lower quality ore being mined to ensure continuity. This is the reason profits were less than budgeted for - But as SP stated still an excellent result.
In this world no one can guarantee no problems or breakages will occur. Most mining companies are plagued with such. Anvil rarely encounters such significant events.
As such those who can extrapolate from this quarterly report into next quarter will be accumulationg.
Those who extrapolate further into fourth quarter will be buying with ears back.
