Well the promised update finally came out, in time for morning trade in London (up 5% on low-ish volumes as I speak). Nothing really exciting as another update is promised by end of month.
Good to see that Simberi is back in production, and that the ball mill is fixed (hopefully they've bought some spare balls, hmmm?). The cost to output is pretty much as you'd expect. All up, if the Solomons is ticking over as it's supposed to (and there's been no news to the contrary) we shuold get at least 30koz/quarter and better than 120koz for FY2011-12. I would have thought they'd clear $US50-60m after operating costs this FY.
One kind of obvious question to ask, which I don't have a feel for, is how ramping up affects current production; can new equipment be commissioned in parallel or will there be substantial downtime?
Several of us have noted before the low volumes and gradual drift downwards in share price. Hopefully this will change.
Interestingly there was a large (170k) sell order at $2.32 for most of the day that disappeared at about 3pm.
ALD Price at posting:
$2.28 Sentiment: LT Buy Disclosure: Held
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