There are a number of issues here. We have a figure for loss of revenue. What are the additional costs?
More importantly the grade for Jul is 0.78%, according to the AGM presentation it should have been 0.86%. 0.78% is actually below the Jun forecast figure. Feed grade also impacts recovery rate, so it is a double whammy
The bottom line is that Q3 will be significantly below expectations.
Ok we have to live with that, cave ins happen. But the way the company have managed the info Ie only putting out releases after the press have already reported something and still trying to cover up and understate the impact, sucks. I have been pushing the company hard at every stage to release proper info. Trying to hide just leads to the situation we now have where there is still more bad news to come. Has it been done properly the this release could have been about how things were better than feared and subsequent stuff could have built on it.
The person responsible is the CEO Jian-Hua Sang, he clearly has no idea how to run a publicly owned company.
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