I haven't read the quarterly in depth SMY, but if you compare the production figures with the forecast figures from the Dealers and Diggers presentation, you can see they're behind the eight ball a bit. Doesn't appear to be much, but at around $25 000 a tonne it is quite a lot.
They do say they are on target to meet their budget production in the Kimberley of 7500 to 8000 tonnes, which they may just sneak into. But maybe investors would rather have seen it at the upper reaches of this range.
In the Dealers and Diggers Presentation the forecast production for the Kimberley was 8000 tonnes. there was no mention of 7500 tonnes. (That I can see. Happy to be corrected)
What are they going to do to address this? I'll get back to you on that.
Lot of jobs advertised for underground people in today's Broome Advertiser.........coincidence?
I'm also going to blame the current market climate as well SMY. I think the news coming out of the US isn't good, and there's certainly more to come. The losses announced by UBS in Europe yesterday shows that the subprime problems are far more widespread than what people first thought.
Check out the announcements by BMN and FML today........twelve months ago you could have put the house on either of these stocks flying up on news like that. They both closed lower.
SMY
sally malay mining limited
