Hi Paddy, Cant say I disagree with anything you have said....

Hi Paddy,

Cant say I disagree with anything you have said.

Investors should be (but arn't) putting AU POG in context I agree.

This I think is the fault of the press that spins or regurgitates the negative US POG outlook and the market stays clear, based on a false premis that the US POG is negative for Australia POG & producers.

The AU POG is quite stable, in a trading range regardless of US pog going up or down.

The news should be reporting the Australian POG compared to the US POG, but instead, any local reporting compares the POG from an hour ago dropping $5, or that the POG (in the US) had a big drop overnight, without mentioning that it was only in the US and the AU price is stable or little changed.

I am sure many trading houses have ordered traders to stay away from the sector, until a US rate rise, bottoms out the US POG.

Revenue figures being the main thing driving the price of ABU I agree again.

The difference with NST is that they have cash in the bank from proven production.
Not long now for ABU to start to be in the same boat. Another post here stated until production NST behaved the same as ABU, production will facilitate price discovery.

I do disagree with others expecting the next 1/4 report to give any meaningful figures, unless commissioning is completed and 10k of the proper Old Pirate ore has been put through the plant already.

The last report told us the plant was nearly commissioned with most circuits working well, with a couple to finish. So I expect commissioning to be a month later than planned.

The last report also told us that "low grade" (I.E pre existing - stock piled) ore was mostly used so far, so commissioning gold produced means nothing with regards to Old Pirate production figures, though its good to have 400-500k revenue to off set cost and use up the stockpile.

Regards MarkH