Dec Quarterly was the turning point - management are doing it.
Syama sulphide is where the value creation is at - as management well know. Hence the effort and capital.
Mako is performing well - Dec Quarterly figures outstanding. AISC 19% lower than Sep Quarter. Mined grade increased 23%. Gold poured up 17% - 34,076. Those are double digit improvements across the board - but no one says a thank you. Let's get to Syama Sulphide.
Syama Sulphide poured 14,791 oz in the month Dec alone.
Quarterly production usually is around 30,000 oz. So, 14,000 ounces (Dec month) before realisation of all the improvements!
After these efficiencies - shutdown, flotation cleaner cells, Onstream Analyser installation, maintenance etc. management should be able to get Syama pouring ~40,000 ounces a quarter and get AISC down to appropriate levels in my opinion.
Syama Oxide
Syama Oxide had the lowest grade to mine all year (1.6 g/t) but still produced an excellent pour of 15,009 ounces. Sweating the assets - pushing the ore through at an impressive 419,307 tonnes.
These are real results, that according to the CEO have carried into Jan, Feb.
In my opinion - guidance should have be increased to burn the shorters.
But it seems the CEO is adopting the quiet under promise, over deliver strategy.
The December Quarterly results speak to this.
Above is not financial advice and my opinion only.
RSG Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
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